Sustainable finance: A journey toward ESG and climate risk

Monica Billio, Michele Costola, Iva Hristova, Carmelo Latino and Loriana Pelizzon ()

No 349, SAFE Working Paper Series from Leibniz Institute for Financial Research SAFE

Abstract: The present paper proposes an overview of the existing literature covering several aspects related to environmental, social, and governance (ESG) factors. Specifically, we consider studies describing and evaluating ESG methodologies and those studying the impact of ESG on credit risk, debt and equity costs, or sovereign bonds. We further expand the topic of ESG research by including the strand of the literature focusing on the impact of climate change on financial stability, thus allowing us to also consider the most recent research on the impact of climate change on portfolio management.

Keywords: environmental; social; and governance factors (ESG); credit risk; debt cost; equity cost; sovereign bonds; portfolio management (search for similar items in EconPapers)
JEL-codes: G11 G24 M14 (search for similar items in EconPapers)
Date: 2022
New Economics Papers: this item is included in nep-agr, nep-ban, nep-cfn, nep-ene and nep-env
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:zbw:safewp:349

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