41 résultats pour « esg »

The influence of ESG Ratings on the Credit Spread of Corporate Bonds

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#esg practices enhance #riskmanagement, performance, stakeholder interest, and capital access. Strong ESG ratings reduce credit spread, benefiting firms' financials. ESG disclosure aligns with principal-agent theory, lowering debt costs. Even modest ESG improvement cuts credit spread by 0.0035%, aiding companies' interest expenses. Transparent ESG commitment yields #european market rewards, aiding corporate bonds. Study aids policymakers, credit agencies, investors, and issuers in understanding ESG's bond impact.

The Unconscious Conscience of Digital Transformation: The Chief Compliance Officer

This paper explores the evolving role of #compliance in #digitaltransformation (#dt), as corporations globally embrace technology to enhance competitiveness and address responsible, #ethical, and #sustainable practices. It analyzes the current and potential role of Compliance in DT, emphasizing the need to manage #governance, #risk, and compliance aspects and leverage #esg objectives. The authors conducted interviews with Compliance heads and facilitated a Salon attended by General Counsel and Compliance professionals. The purpose is to encourage international discussions on Compliance's role in digital transformation.

Central bank supervisory role: micro‑prudential supervision and regulation of ESG risks

This paper discusses the role of #centralbanks in #regulating and #supervising #esgrisks in the #banking sector. The authors review recent international and regional rules requiring banks to consider #esg factors in their #governance, and analyze the practices of #microprudential #supervisors in several jurisdictions.

Reinsurance and Sustainability: Evidence From International Insurers

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"In this article we analyze a sample of international #insurers between 2013 and 2022, and show that the purchase of #reinsurance is negatively related to their #sustainability, as measured by #esg scores. Furthermore, we illustrate that insurers' losses decrease with higher levels of reinsurance and sustainability. However, while reinsurance brings down insurers' profitability, sound ESG scores are related to lower expenses and increasing profitability. Our interpretation is that strong ESG profiles may serve as a cheaper alternative to reinsurance for #riskmitigation."

ESG Securities Fraud

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This article addresses the increasing concern of investors regarding corporate wrongdoing impacting a company's stock price, particularly regarding #esgrisk. The article argues that courts should not dismiss ESG securities #fraud cases as mere puffery, but instead focus on whether the corporation and its managers knew of a material #risk of an #esg problem but deceptively obscured that risk in its communications with investors.

Policyholders' Subjective Beliefs: Approaching New Drivers of Insurance ESG Reputational Risk

This paper explores the #reputationalrisk associated with #esg investments and provides a formal theoretical valuation system for ESG reputation. The authors argue that ESG criteria adoption has multiple positive dimensions and outcomes, but the analysis of the #risks related to #sustainability is uncommon. They model ESG reputational risk using paradigms of #behaviouralfinance, defining it by subjective probabilities framed in a #probability function based on potential trustees' preferences. The paper highlights the need for accurate evaluation of reputational risks related to ESG investments by firms and other institutions, including #insurance companies and #pensionfunds.