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Contribution Details
| Type | Conference Presentation |
| Scope | Discipline-based scholarship |
| Title | Green versus sustainable loans: The impact on firms’ ESG performance |
| Organization Unit | |
| Authors |
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| Presentation Type | paper |
| Item Subtype | Original Work |
| Refereed | Yes |
| Status | Published electronically before print/final form (Epub ahead of print) |
| Language |
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| Event Title | SYMPOSIUM: ESG and Firm Value: a Multi-Stakeholder Approach |
| Event Type | conference |
| Event Location | IE UNIVERSITY RESEARCH INITIATIVE ON POLICY & MANAGEMENT IN THE DIGITAL ECONOMY |
| Event Start Date | October 28 - 2022 |
| Event End Date | October 28 - 2022 |
| Abstract Text | This paper studies the development of a firm’s Environmental, Social, and Governance (ESG) performance following the issuance of “green loans” earmarked for green projects versus “sustainable loans” to firms bench-marked by ESG criteria. Firms issuing green loans appear to be effective in shrinking their environmental emissions; however, they weaken in social performance indicated by a decrease in their human rights, community, and product responsibility scores. This implies that they prioritize their environmental goals, yet neglect their commitment towards their clients and society. Sustainable loans, on the other hand, we find to incentivize firms to improve their ESG performance by increasing their environmental and governance scores. Thus, the issuance of a sustainable loan surely precedes (and may consequentially signal) subsequent improvements in a firm’s overall ESG performance. |
| Official URL | https://esgandfirmvalue.ie.edu/ |
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