Please click on the link to the event you would like to watch. Full papers, where available, can be accessed by following the link on the paper title. 

Day 1- Tuesday September 8

7:30am - 9:00am EDT

9:30am - 10:30am EDT

Paper Presentation 1a - ESG: What Are We Talking About?

Aggregate Confusion: The Divergence of ESG Ratings, Florian Berg, Julian Koelbel and Roberto Rigobon

Responsible Institutional Investing Around the World, Pedro Matos, Rajna Gibson Brandon, Simon Glossner, Philipp Krueger and Tom Steffen

Navigating impact measurement: The case of South African impact investors, Erin Bennett and Xolisa Dhlamini

A typology of global sustainable finance codes and standards – a crucial explanation of their evolution, differences, and today’s application, Christoph Nedopil Wang and Yao Wang

Paper Presentation 1b - Climate Change: Financial Implications of Physical Risks

The Economic Costs of Climate Change, Emilia Garcia-Appendini, Claudia Custodio, Miguel Ferreira and Adrian Lam

Shelter from the storm: Which safe asset for climate disasters? Abraham Lioui, Mathew Lanfear and Mark Siebert

How does VIX response to Nature Disasters: A Cross-country Perspective, Ping Wei, Xiaodan Mao, Yunfeng Zhao and Xiaohong Chen

Labor Market Frictions and Adaptation to Climate Change, Jisung Park, Nora Pankratz and Patrick Behrer.

11:00am - 12:00pm EDT

Paper Presentation 2a - ESG Performance and Financial Performance

Do low-carbon investments in emerging economies pay off? Evidence from the Brazilian stock market, Felipe A. F. De S. Cunha, Erick M. De Oliveira, Marcelo C. Klotzle, Renato J. Orsato and André F. P Lucena

A Sustainable Capital Asset Pricing Model (S-CAPM): Evidence from green investing and sin stock exclusion, Olivier David Zerbib

Better Fewer, But Better: Stock Returns and the Financial Relevance and Financial Intensity of Materiality, Costanza Consolandi, Robert G. Eccles and Giampaolo Gabbi

Enhancing Profits and Reducing Losses by Managing Material Environmental, Social and Governance (ESG) Factors, James McGlinch and Witold Henisz.

12:15pm - 1:30pm EDT

Paper Presentation 2b - Actors and Approaches for Driving Change

Sustainable Finance and Transmission Mechanisms to the Real Economy, Elizabeth Harnett, Ben Caldecott, Alex Clark and Krister Koskelo

Does Green Finance Reduce Pollution? Evidence from a Government Pilot Program, Zhiyao Deng, Dragon Tang and Yupu Zhang

Universal Ownership in Practice: A practical positive investment framework for asset owners, Ellen Quigley

Do Health Hazards Reshape Firm Boundaries? Adrian Lam.

Day 2- Wednesday September 9

7:00am - 8:00am EDT

9:30am - 10:30am EDT

Paper Presentation 3a - Economic Ecosystems for Sustainability

Central Bank Mandates, Sustainability Objectives and the Promotion of Green Finance, Simon Dikau and Ulrich Volz

Bank Green Lending and Credit Risk, An Empirical Analysis of China’s Green Credit Policy, Xiaoyan Zhou, Ben Caldecott, Andreas Hoepner and Yao Wang

Capital stranding cascades: The impact of decarbonisation on productive asset utilisation, Emanuele Campiglio, Eric Kemp-Benedict, Antoine Godin and Louison Cahen-Fourot

Heterogeneous Actors and Relationships in the Global Solar Finance Market: A Complex Systems Approach, Sumit Kothari and Nadia Ameli

Paper Presentation 3b - Where the Market Is Not Getting It Right

End of life decommissioning and recycling of solar panels in the United States. A real options analysis, Carlos Vargas and Marc Chesney

Is Africa leapfrogging to renewables or heading for carbon lock-in? A machine-learning-based approach to predicting success of power-generation projects, Galina Alova, Philipp Trotter and Alex Money

The birds won’t pay: unlocking finance for mainstreaming urban nature-based solutions, Helen Toxopeus, Laura Tozer and Harriet Bulkeley


Climate-related financial policy in a world of radical uncertainty: Towards a precautionary approach, Hugues Chenet, Josh Ryan-Collins and Frank van Lerven

11:00am - 12:00pm EDT

Paper Presentation 4b - ESG: What Lenders Want, Do, and Can Do

The Cost of Debt of Renewable and Non-Renewable Energy Firms: Evidence from Loan Data, Oliver Schenker, Karol Kempa and Ulf Moslener

Credit risk sensitivity to carbon price, Vincent Bouchet and Theo Le Guenedal

Bank 2030: Accelerating the transition to a low carbon economy, Jasminka Enderle, Grant Rudgley and Nina Seega

Low-Carbon Investment and Credit Rationing, Karol Kempa and Christian Haas

12:15pm - 1:15pm EDT

2:00pm - 3:00pm EDT

Day 3 - Thursday September 10

7:00am - 8:00am EDT

7:00am - 8:00am EDT

8:00am - 9:00am EDT

9:30am - 10:30am EDT

Paper Presentation 5a - Shareholders: Drivers of ESG Change(?)

Can Sustainable Investing Save the World? Reviewing the Mechanisms of Investor Impact, Julian Koelbel, Florian Heeb, Falko Paetzold and Timo Busch

Environmental Impact Investing, Tiziano De Angelis, Peter Tankov and Olivier David Zerbib

The Real Effects of Environmental Activist Investing, S. Lakshmi Naaraayanan, Kunal Sachdeva and Varun Sharma

Shareholder Activism and Firms’ Voluntary Disclosure of Climate Change Risks, Caroline Flammer, Michael Toffel and Kala Viswanathan

11:00am - 12:00pm EDT

Paper Presentation 6a - Shareholders: Drivers of ESG Change(?) (Continued from 5a)

Shareholder activism on climate change: evolution, determinants and consequences, Ivan Diaz-Rainey, Paul A. Griffin, David Lont, Antonio Jesús Mateo Márquez and Constancio Zamora Ramírez

Coordinated Engagements, Elroy Dimson, Oğuzhan Karakaş and Xi Li

Green versus Brown Initial Public Offerings: How do green IPOs fare?  Freddie Cleverley, Ivan Diaz-Rainey and Pia Helbing

The value of a Principles for Responsible Investing designation: A setting for environmental social and governance natural experiments, Dan Daugaard

Paper Presentation 6b - ESG: Does it Matter to Investors?

Sustainability and Private Wealth Investment Flows, Amir Amel-Zadeh, Rik Lustermans and Mary Pieterse-Bloem

Carbon Intensity and the Cost of Equity Capital, Arjan Trinks, Gbenga Ibikunle, Machiel Mulder and Bert Scholtens

The Impact of Sustainability on Retail Investor Trading Behavior: Evidence from Germany, Yasid Soufi, Frederik Klatt and Christof Weinhardt

Determinants of individual sustainable investment behavior – A framed field experiment, Gunnar Gutsche, Heike Wetzel and Andreas Ziegler

12:15pm - 1:15pm EDT

1:00pm - 1:45pm EDT



8-11 September 2020

Columbia University

The Global Research Alliance for Sustainable Finance and Investment


10:00am - 12:00pm EDT