The Importance of Climate Risks for Institutional Investors

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ID: 291056
2019
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Ranked #16 of 194 articles by views in review of financial studies

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Abstract
Abstract According to our survey about climate risk perceptions, institutional investors believe climate risks have financial implications for their portfolio firms and that these risks, particularly regulatory risks, already have begun to materialize. Many of the investors, especially the long-term, larger, and ESG-oriented ones, consider risk management and engagement, rather than divestment, to be the better approach for addressing climate risks. Although surveyed investors believe that some equity valuations do not fully reflect climate risks, their perceived overvaluations are not large.
Reference Key
openalex_W2906323621 Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Philipp Krueger, Zacharias Sautner, Laura T. Starks
Journal review of financial studies
Year 2019
DOI
10.1093/rfs/hhz137
URL
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