Looking for sustainable development: Socially responsible mutual funds and the low‐carbon economy
Impacte
Scholar |
Altres documents de l'autoria: Soler-Dominguez, Amparo; Matallín Sáez, Juan Carlos; de Mingo-López, Diego Víctor; Tortosa-Ausina, Emili
Metadades
Mostra el registre complet de l'elementcomunitat-uji-handle:10234/9
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https://doi.org/10.1002/bse.2713 |
Metadades
Títol
Looking for sustainable development: Socially responsible mutual funds and the low‐carbon economyAutoria
Data de publicació
2020Editor
John Wiley and SonsISSN
0964-4733; 1099-0836Cita bibliogràfica
Soler‐Domínguez, A, Matallín‐Sáez, JC, de Mingo‐López, DV, Tortosa‐Ausina, E. Looking for sustainable development: Socially responsible mutual funds and the low‐carbon economy. Bus Strat Env. 2020; 1– 16. https://doi.org/10.1002/bse.2713Tipus de document
info:eu-repo/semantics/articleVersió de l'editorial
https://onlinelibrary.wiley.com/doi/full/10.1002/bse.2713Versió
info:eu-repo/semantics/publishedVersionParaules clau / Matèries
Resum
Sustainable investment responds to demands for carbon and climate‐neutral societies. To address the urgency around climate change and provide investors with more qualified information, Morningstar has developed the ... [+]
Sustainable investment responds to demands for carbon and climate‐neutral societies. To address the urgency around climate change and provide investors with more qualified information, Morningstar has developed the Low Carbon Designation (LCD) to indicate that the companies held in a portfolio are in general alignment with the transition to a low‐carbon economy. The designation is given to portfolios that have low carbon risk and fossil fuel exposure scores. The present study builds on the LCD by examining the relationship between these scores and financial performance. With this aim, we analyze 3920 socially responsible mutual funds from across the world. Results show differences in financial performance according to scores and investment areas. We find evidence that funds considered to have higher levels of sustainability achieved better performance than funds with higher exposure to companies involved in carbon and fossil fuel industries. We provide insights on the informativeness of these new scores with a focus on climate change and their relevance in helping investors to identify climate‐aware funds. This study highlights the importance of introducing strategies to develop green finance; the analysis confirms that sustainability improves performance. Finally, the LCD indicator is shown to be relevant for making fairer comparisons among socially responsible funds and, ultimately, for developing low‐carbon economies. [-]
Publicat a
Business Strategy and the Environment, 2020Entitat finançadora
Ministerio de Economía y Competitividad | Generalitat Valenciana | Universitat Jaume I
Codi del projecte o subvenció
ECO2017‐85746‐P | PROMETEO/2018/102 | BEST/2017/153 | UJI‐B2017‐33
Drets d'accés
Copyright © John Wiley & Sons
http://rightsstatements.org/vocab/InC/1.0/
info:eu-repo/semantics/restrictedAccess
http://rightsstatements.org/vocab/InC/1.0/
info:eu-repo/semantics/restrictedAccess
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