Sustainable investments
Confronted with ongoing climate change, states, companies, and investors are under pressure to invest in structural transformation. Sustainability criteria should already be considered in the investment process. How can capital flows be aligned with the necessary economic restructuring?
Research topics:
- Sustainable financial products
- Green bonds
- Sustainability labels
- Impact investing
- Impact measurement
- Divestment
- Shareholder engagement and stewardship
- Sustainable financial market policy
- Investment incentives
- International climate finance
Publications
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Scientific publication
Journal of Environmental Economics and Management: Physical climate risk and the pricing of bank loans
This paper analyses how physical climate risk affects the pricing of loans. Using a global dataset of almost 86,000 syndicated bank loans, we find that…
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Policy Brief
PB 1/2026: Assessing Company Impact
Assessing positive and negative impacts at the company level is central for impact investors, but company impact assessment tools lack precise methods and reliable information…
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Scientific publication
International Review of Financial Analysis: The performance of low-carbon equity funds
This study examines the performance of low-carbon equity funds by gaining a better understanding of what drove past performance, what opportunity costs arose from higher…
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Scientific publication
The Review of Financial Economics: Measuring the performance of government bond portfolios with index-based level, slope, and curvature factors
This paper introduces a three-factor interest rate risk model to improve the measurement of active bond fund performance. Traditional models assume a linear relationship between…
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Scientific publication
Energy Policy: EU power market reform toward locational pricing: Rewarding flexible consumers for resolving transmission constraints
The ongoing expansion of wind and solar electricity generation alongside increasing electrification is leading to a considerable strain on transmission capacities and grid bottlenecks in…
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News
„Greenhouse Gas Protocol: Asia-Pacific firms have work cut out on meeting climate-disclosure requirements, executive implementing standard says“
Alexander Bassen leads GHG Protocol’s new Independent Standards Board
Invitation to the WPSF Research Seminar
