{"title":"Sustainability labels matter","authors":"Christopher Kolling, Timo Busch","doi":"10.1016/j.frl.2024.106609","DOIUrl":null,"url":null,"abstract":"We investigate whether funds holding a sustainability label, exhibit better sustainability performance compared to unlabeled funds. Using a sample of over 150 public equity funds awarded the FNG-Label, we assess their performance regarding carbon emissions, SDG scores, and ESG ratings. We use matching methods to compare labeled funds with different control groups, namely conventional as well as with sustainable peers without a label. The results show that labeled funds have superior sustainability attributes, particularly in terms of carbon emissions and SDG contributions. However, the differences in classical ESG scores, which in our case focus on financial materiality, are less pronounced.","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"28 1","pages":""},"PeriodicalIF":7.4000,"publicationDate":"2024-12-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Finance Research Letters","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1016/j.frl.2024.106609","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
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Abstract
We investigate whether funds holding a sustainability label, exhibit better sustainability performance compared to unlabeled funds. Using a sample of over 150 public equity funds awarded the FNG-Label, we assess their performance regarding carbon emissions, SDG scores, and ESG ratings. We use matching methods to compare labeled funds with different control groups, namely conventional as well as with sustainable peers without a label. The results show that labeled funds have superior sustainability attributes, particularly in terms of carbon emissions and SDG contributions. However, the differences in classical ESG scores, which in our case focus on financial materiality, are less pronounced.
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