Shareholder engagements in banks

Alexandre Garel, Arthur Romec and Feng Zhou

Economics Letters, 2025, vol. 254, issue C

Abstract: This paper studies ESG engagements in banks by one of the world’s largest investors. Banks emerge as the industry receiving the largest number of ESG engagements. We examine the determinants of ESG engagements in banks. We find that banks with more ESG incidents and larger carbon footprint are significantly more likely to be targeted. Overall, the results suggest that the decision to engage banks on ESG issues is motivated by negative ESG news and greater climate risk exposure.

Keywords: Shareholder engagement; Climate change; Carbon emissions; ESG; Activism (search for similar items in EconPapers)
JEL-codes: D62 G23 G32 G34 M14 Q54 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:254:y:2025:i:c:s0165176525002848

DOI: 10.1016/j.econlet.2025.112447

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