PRI Academic Seminar Series

Date: Friday, 28 January 2022
Time: 9:30-11am EST; 2:30-4pm GMT; 3:30-5pm CET; 10:30-12am HKT
Platform: Zoom

The PRI Academic Seminar Series invites leading ESG experts to present their research to academic scholars and investors.

The aim of the series is to:

  • give world thought leaders in responsible investing the opportunity to present their work and obtain valuable feedback
  • provide an opportunity to junior scholars to network with the speaker and obtain career advice
  • be more inclusive and strengthen our global PRI Academic Network community throughout the year

Each session will consist of two parts:

  • Part 1: Presentation (60min interactive seminar) – open to all
  • Part 2: Network opportunity and career advice for junior scholars with speaker (30min) – open to PhD students and junior faculty

Please note that this seminar session will not be available on-demand. 

 

REGISTER HERE

 

Join us on Friday, 28 January to hear from:

Marcin K - Photo v2

Marcin Kacperczyk
Professor of Finance,
Imperial College London and CEPR
Read Marcin Kacperczyk’s bio

Paper: Carbon Emissions and the Bank-Lending Channel
Abstract: We study how firm-level carbon emissions affect bank lending and, through this channel, real decisions in a sample of global firms with syndicated loans. Using bank-level commitments to carbon neutrality to measure changes in banks’ green preferences, we show that firms with higher (lower) scope-1 emission levels borrowing from banks making commitments subsequently receive less (more) bank credit, even controlling for differences in their fundamentals. The bank decisions to reallocate credit more likely reflect their preferences for green rather than their differential response to an increased business risk. The reduction in bank lending to a brown sector lowers this sector’s real investments but even then, these firms do not improve their environmental scores.

 

Register for the other Academic Seminars in the 2021-22 series here:

Seminar series organiser and moderator 2021 - 2022: Caroline Flammer
Associate Professor and Dean’s Research Scholar, Boston University; Visiting Professor of International and Public Affairs, Columbia University