Can responsible investment induce sustainable behavior?
INVESTINGIMPACT is an empirical microeconomic study of the effects of responsible investment on investee firms’ environmental, social, and governance behavior and outcomes. We focus on the sustainability and ethically -motivated divestitures of the world’s largest sovereign wealth fund: Norway’s $1.4 trillion Government Pension Fund.
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About
The looming threat of climate change underscores the urgent need to understand the role that sustainable investing and financial markets can play in promoting energy transition.
Our project answers this need by studying the impact of the Oil Fund’s coal divestments on business behavior (such as renewable energy use), as well as generating micro-level knowledge on how mining and power corporations change their operations in the aftermath of divestment.
This knowledge can then provide insights for investors and non-profit organizations such as the Principles of Responsible Investment and the Global Sustainable Alliance, which work to promote and deepen the impact of sustainable investment.
Research Team
Fenella Carpena
Associate Professor at the Oslo Business School, Oslo Metropolitan University (OsloMet).
My research focuses on development economics. Prior to joining OsloMet, I obtained a PhD in Economics from the University of California, Berkeley in August 2017.
Jonas Hjort
Professor of Economics at University College London and the University of Oslo.
Marco Castelluccio
PhD Candidate in Economics at University College London and PhD Scholar at the Institute for Fiscal Studies.
InvestingImpact is financed by the Research Council of Norway and Finansmarkedsfondet.