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Climate-conscious institutional investors, carbon performance and policy: the case of the banking industry
[Investisseurs institutionnels écologiquement responsables, performance et politique carbone: le cas du secteur bancaire]

Author

Listed:
  • Benoît Jamet

    (IRGO - Institut de Recherche en Gestion des Organisations - UB - Université de Bordeaux - Institut d'Administration des Entreprises (IAE) - Bordeaux, IUT Bordeaux - Institut Universitaire de Technologie - Bordeaux - UB - Université de Bordeaux)

  • Julien Bousquet

    (IUT Bordeaux - Institut Universitaire de Technologie - Bordeaux - UB - Université de Bordeaux)

Abstract

The role of institutional investors (IIs) involved in environmental issues is little studied in the literature. This article analyzes the impact of these IIs on the performance and carbon policy of a sample of 131 international banks from 39 countries. The Bayesian models tested show that institutional investors' weight in capital and their level of environmental commitment encourage banks to reduce their emissions and deploy a proactive carbon policy. The influence of this class of II is more pronounced for retail banks, the least indebted banks and those from countries with a less restrictive regulatory context.

Suggested Citation

  • Benoît Jamet & Julien Bousquet, 2023. "Climate-conscious institutional investors, carbon performance and policy: the case of the banking industry [Investisseurs institutionnels écologiquement responsables, performance et politique carbone: le cas du secteur bancaire]," Post-Print hal-05557630, HAL.
    • Handle: RePEc:hal:journl:hal-05557630
    Note: View the original document on HAL open archive server: https://hal.science/hal-05557630v1
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    References listed on IDEAS

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    1. Adams, Renée B. & Mehran, Hamid, 2012. "Bank board structure and performance: Evidence for large bank holding companies," Journal of Financial Intermediation, Elsevier, vol. 21(2), pages 243-267.
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    Keywords

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    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • 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
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • 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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