Sustainable investing differs from the traditional investment approach by incorporating environmental, social and/or governance (ESG) factors into investment decisions. In the context of the rising climate urgency, sustainable investing has experienced unprecedented growth in recent years, evolving from a niche market to a mainstream investment approach. However, the sudden enthusiasm for this new segment of the financial industry, the lack of clarity about what can and cannot be considered sustainable and the many ways to integrate sustainability criteria into the investment process have raised several concerns. The four chapters of this thesis contribute to the understanding of the challenges and opportunities associated with sustainable investing, which is essential given the leading role that the financial system has to play in the transition to a sustainable and low-carbon economy. We empirically address topical issues such as greenwashing, resilience to climate risks, and motivations for sustainable investing, based on recent data on mutual funds in the United States. The conclusions drawn from our study have important implications and provide valuable information that can help investors and fund managers in their decision-making, policymakers in developing measures to support financing the transition and mitigate the negative effects of climate change, and supervisors and regulators in ensuring market safety and soundness.
Essays on Sustainable Investing in the U.S. Mutual Fund Industry
Baily, C. (Auteur). 9 janv. 2024
Student thesis: Doc types › Docteur en Sciences économiques et de gestion