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


  • Scientific publication

    Finance Research Letters: Rating changes revisited: New evidence on short-term ESG momentum

    Environmental, social and governance (ESG) ratings are mainstream in sustainable finance. This paper provides important evidence on the effects of ESG rating changes on companies’…

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  • Policy Brief, Sustainability Risks and Opportunities

    PB 6/2022: The first ECB bottom-up climate stress test: dealing with data gaps and methodological challenges

    The ECB’s “SSM Climate risk stress test,” published in July 2022, provides an important step toward integrating climate change related risks into the banking system.…

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  • Policy Brief, Sustainability Reporting, Sustainability Risks and Opportunities

    PB 5/2022: Standardized stress test scenario can improve climate risk reporting

    More and more countries, regions, cities, companies, and financial institutions are defining climate neutrality as a strategic goal. So far, however, it is not possible…

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  • Policy Brief, Sustainability Reporting

    PB 4/2022: Key observations about the open EU consultation on the functioning of the EU ESG ratings market

    The European Commission has launched a consultation on the functioning of the ESG ratings market in the European Union and on the consideration of ESG…

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  • Policy Brief, Sustainability Reporting

    PB 3/2022: Raising transparency through TCFD-aligned climate reporting

    The availability of consistent and comparable climate-related information is a decisive factor in considering the effects of climate change for business and investment decisions. The…

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  • News

    Invitation to the WPSF Research Seminar

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  • Media article

    More than ‘green’ and ‘brown’: How sustainable finance can enable the transition

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  • News

    Kerstin Lopatta appointed to the EFRAG Sustainability Reporting Board

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  • News

    New Project Website

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