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Les investisseurs financiers : des activistes efficaces face aux risques climatiques ?

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  • Patricia Charléty

Abstract

The risks linked to global warming are among the first concerns of investors: physical, regulatory, or stranded asset risk, they affect all companies. This first translated into a demand for more transparency on the possible consequences of climate change and the measurement of the carbon footprint. Investors, in particular institutional investors and socially responsible investment funds, are now adopting a more active behavior. By excluding certain company stocks deemed too polluting from portfolios, by engaging in dialogue with companies or by submitting climate resolutions to the agendas of general meetings, they help make companies more responsible. Activism appears to be welcomed by financial markets and does not come at the expense of shareholder value. Classification JEL : G02, G03, M14, Q54, Q56.

Suggested Citation

  • Patricia Charléty, 2020. "Les investisseurs financiers : des activistes efficaces face aux risques climatiques ?," Revue d'économie financière, Association d'économie financière, vol. 0(2), pages 139-155.
    • Handle: RePEc:cai:refaef:ecofi_138_0139
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    More about this item

    JEL classification:

    • G02 - Financial Economics - - General - - - Behavioral Finance: Underlying Principles
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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