Conference prize rewards innovative research into responsible investment

TORONTO, 2 October 2012 – Researchers from the universities of Maastricht, Tilburg, ICHEC Brussels Management School and Vlerick Leuven Gent Management School were the winners of the Sustainalytics Prize for papers of excellence on responsible investment. The Awards were sponsored by Sustainalytics. 

The Awards were presented at the 2012 Principles for Responsible Investment (PRI) Academic Conference held at York University, Toronto and were judged by a panel of leading academics and investors. Details of the judging panel can be found below.

Rob Lake, Director of Responsible Investment at the PRI, said: “Academic research is vital to the development of responsible investment: without rigorous evidence of the financial benefits of integrating ESG into investment activities, little will be achieved. The two winning articles make an important contribution to this field  and we are grateful to Sustainalytics for recognising and rewarding important research.”

The winners are: 

Student Award:From Occupy Wall Street to Mainstream: A Question of Beliefs and Coordination’ by Celine Dumas, ICHEC Brussels Management School, Belgium and Dr. Celine Louche, Vlerick Leuven Gent Management School, Belgium.

Academic Award:Stakeholder Relations and Stock Returns: On Errors in Investors’ Expectations and Learning’ by Arien Borgers, Kees Koedijk and Jenke ter Horst of Tilburg University and Jeroen Derwall of Maastricht University.


Note to editors

The judging panel included: Tessa Hebb, Director of the Carleton Centre for Community Innovation, Carleton University, Canada; James Hawley, Professor at the School of Economics and Business Administration Saint Mary’s College, USA; Lars Hassel, Programme Director, Mistra , Sweden; Nicolas Mottis, Professor, ESSEC, France; JeanPhilippe Desmartin, Senior Analyst, Head of SRI research, Oddo Securities, France; Wes Cragg, Director of the Canadian Business Ethics Network at York University, Canada; Hendrik Garz, Managing Director, Sustainalytics Germany; David Wood, Director of the Initiative for Responsible Investment, Harvard University, USA; Bouchra M’Zali, Professor of Finance at ESG-UQAM, Canada; Kimberly Gladman, Director of Research and Risk Analytics, GMI Ratings, USA; Ben Richardson, Professor of Environmental Law and Sustainability, University of British Columbia, Canada; Fabrizio Ferraro, Associate Professor of Business Management, IESE Business School, Spain.

About the PRI Academic Network

As part of broader efforts to increase knowledge about responsible investment practices, the PRI Academic Network works to strengthen cooperation between signatories and the academic community. With a membership of 270 academics, investment practitioners and policy makers, the PRI Academic Network represents a diverse array of research interests from around the world. The network aims to provide implementation support to PRI signatories through promoting and funding research and events that generate practical and relevant responsible investment research. The PRI annual Academic conference aims to showcase the best examples of this research.

About the Principles for Responsible Investment

The United Nations-backed Principles for Responsible Investment Initiative (PRI) is a network of international investors working together to put the six Principles for Responsible Investment into practice. The Principles were devised by the investment community. They reflect the view that environmental, social and corporate governance (ESG) issues can affect the performance of investment portfolios and therefore must be given appropriate consideration by investors if they are to fulfil their fiduciary (or equivalent) duty. The Principles provide a voluntary framework by which all investors can incorporate  ESG issues into their decision-making and ownership practices and so better align their objectives with those of society at large.

About Sustainalytics

Sustainalytics is an award-winning research firm that provides environmental, social and governance (ESG) analysis and responsible investment services to investors around the world. The company offers global perspectives and solutions that are underpinned by local experience and expertise, serving both values-based and mainstream investors that integrate ESG information and assessments into their investment management.

Headquartered in Amsterdam, the firm has regional offices in Boston, Frankfurt, Madrid, Paris, Singapore, Timisoara and Toronto and representatives in Brussels, Copenhagen, Colombia and London. The firm has more than 120 staff members with a variety of multidisciplinary and industry expertise. In 2012, Sustainalytics celebrates 20 years of partnering with responsible investors worldwide.




Matthew McAdam, Head of Communications, PRI
Tel: +44 (0) 20 7749 5107

Melissa Chase, Marketing and Communications Coordinator, Sustainalytics
Tel: (+1) 647 317 3646


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