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Stratégies d'investissement bas-carbone

Author

Listed:
  • Bart Goosens
  • Sébastien Jallet
  • David Czupryna

Abstract

More and more investors the world over are basing their investment choices on an appreciation of climate risk. Several approaches have been developed to include the issue in the investment analysis and portfolio construction process. In this article, we analyse two standard strategies for optimising a portfolio's carbon footprint: exclusion and optimisation. Our simulations show that optimisation considerably reduces a portfolio's CO 2 content, without increasing portfolio risk and yet with a low sectorial bias. Optimisation both enhances the portfolio's overall ESG risk profile while addressing investors' climate-related qualms. The optimisation approach should, in our opinion, shortly become the norm. Classification JEL : G11, Q54, Q56.

Suggested Citation

  • Bart Goosens & Sébastien Jallet & David Czupryna, 2020. "Stratégies d'investissement bas-carbone," Revue d'économie financière, Association d'économie financière, vol. 0(2), pages 263-273.
    • Handle: RePEc:cai:refaef:ecofi_138_0263
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    More about this item

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • 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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