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Désinvestissement des combustibles fossiles: quelles conséquences pour la gestion de portefeuille ?
[Fossil fuel divestment and portfolios implications]

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  • Delâtre, Chloë

Abstract

Individual investors and financial institutions are increasingly seeking to divest from fossil fuel producers. This article investigates the financial implications of such a move by comparing two types of stock indices: (1) a traditional stock index that includes companies producing fossil fuels and (2) a stock index where companies producing fossil fuels are completely excluded, but not necessarily extended by clean energy companies. Using a series of measures, we find that fossil fuel-divested indices do not have significantly different risk-adjusted returns from their parent indices. We also find that combining fossil fuel divestment with negative and positive screening methodologies yields significantly higher risk-adjusted returns.

Suggested Citation

  • Delâtre, Chloë, 2022. "Désinvestissement des combustibles fossiles: quelles conséquences pour la gestion de portefeuille ? [Fossil fuel divestment and portfolios implications]," MPRA Paper 114633, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:114633
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    References listed on IDEAS

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    More about this item

    Keywords

    Désinvestir des combustibles fossiles; changement climatique; performance financière; indices boursiers;
    All these keywords.

    JEL classification:

    • G0 - Financial Economics - - General
    • G1 - Financial Economics - - General Financial Markets
    • G2 - Financial Economics - - Financial Institutions and Services

    NEP fields

    This paper has been announced in the following NEP Reports:

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