Estimados Académicos FEN,

Los invitamos al Seminario Interno FEN que dictará el académico Harold López.

Título: Emissions reduction commitment as a financial volatility reduction device: Evidence from CO2 emissions in the USA

Autores: Harold López

Resumen: This article studies the interactive role played by firms’ commitment to reduce greenhouse gas (GHG) emissions and their actual CO2 emissions changes (rather than emissions levels), on financial performance, taking industry and economic sector into account. Highly committed firms tend to financially underperform, on average. However, the averages hide macro-industry differences as well as the association between risk and return. The evidence provided suggests that riskier firms choose to commit more strongly to reduce GHG emissions. Even more revealing, a stronger commitment to reduce emissions leads to a reduction in the financial performance volatility faced by firms, highlighting the financial value of such a commitment, particularly for investment on emission reduction analysis.

El seminario se realizará este viernes 18 de octubre a las 13:00hrs. en la sala T-1002 de la Facultad.