GOVERNMENT INTERVENTION IN ESG INVESTING: FINANCIAL EFFECTS OF FRANCE’S ENERGY TRANSITION FOR GREEN GROWTH ACT Public Deposited

Analytics

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Last Modified
  • April 16, 2020
Creator
  • Ritger, Elizabeth
    • Affiliation: Kenan-Flagler Business School
Abstract
  • Environmental, social and governance (ESG) investing is gaining popularity in the finance sector by incorporating positive social impact and quantitative and qualitative risk factors. Investors using ESG strategies are assessing the impact of this shift on portfolio returns, and governments are regulating ESG data reporting. This study builds on prior research to (1) determine the impact of government reporting standards on ESG investment outcomes and long-term returns of portfolios and (2) address changes in the returns of ESG-focused investment strategies using the largest French companies before and after the implementation of the Energy Transition for Green Growth Act, a 2016 French law impacting ESG reporting standards. The results outline differences in returns between high and low-scoring ESG portfolios in France and changes in these portfolios before and after the regulation passed. The report concludes that France’s regulation increased average ESG scores but did not have a statistically significant impact on the average returns from ESG-focused portfolios.
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Rights statement
  • In Copyright
Advisor
  • Colacito, Riccardo
    • Affiliation: Kenan-Flagler Business School
Degree
  • Bachelor of Business Administration
Graduation year
  • 2020
Language
  • English
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