SFAA Seminar: “The Sustainability Footprint of Institutional Investors”

Speaker: Prof. Rajna Gibson

Prof. Rajna Gibson Brandon is Deputy Director (Education & External Affairs) at Geneva Finance Research Institute & Professor of Finance at the University of Geneva, Switzerland. Upon invitation of SFAA Switzerland Prof. Gibson will hold the seminar titled “The Sustainability Footprint of Institutional Investors” on 28th June 2018 in Luzern, which is based on a recent paper that she co-wrote in January 2018.

Seminar restricted to invited guests.

Abstract:

Little is known about the environmental and social (or sustainability) preferences of 13F institutional investors. In this paper, we propose a novel measure to quantify the portfolio-level sustainability of institutional investors. We show that portfolios of institutions with longer investment horizons exhibit higher sustainability and that risk-adjusted performance is positively related to sustainability, primarily through a reduction of portfolio risk. Using exogenous shocks to investor sustainability induced by natural disasters we provide evidence of a causal impact of sustainability on risk-adjusted performance. An instrumental variable strategy using geographic variation in constituency statutes further supports a causal interpretation of our results.

To learn more about Prof. Gibson click HERE

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