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Information as a Driver of Sustainable Finance

In: Information as a Driver of Sustainable Finance

Author

Listed:
  • Claudia Guagliano

    (European Securities and Markets Authority)

  • Nadia Linciano

    (Commissione Nazionale per le Società e la Borsa)

  • Paola Soccorso

    (Commissione Nazionale per le Società e la Borsa)

Abstract

The development of sustainable finance builds on an efficient ecosystem of sustainability-related information. The incorporation into market prices of sustainability-related risks and opportunities is essential to efficiently channel resources to sustainable projects and to mitigate the risk of abrupt repricing of financial assets exposed to climate changes as well as the risk of a misvaluation of sustainable assets. To this end, availability of high-quality data and information is fundamental. However, this is only a necessary although not a sufficient precondition, as markets seem to be still unable to correctly price sustainability regardless of the information available. It is therefore key to understand the roots of market inefficiencies and whether they can be removed with adequate policy actions, starting from a reflection on the need to switch to an asset pricing paradigm alternative to the efficient market hypothesis.

Suggested Citation

  • Claudia Guagliano & Nadia Linciano & Paola Soccorso, 2022. "Information as a Driver of Sustainable Finance," Palgrave Studies in Impact Finance, in: Nadia Linciano & Paola Soccorso & Claudia Guagliano (ed.), Information as a Driver of Sustainable Finance, chapter 0, pages 39-73, Palgrave Macmillan.
    • Handle: RePEc:pal:psifcp:978-3-030-93768-3_3
    DOI: 10.1007/978-3-030-93768-3_3
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