Earlier this month the inaugural conference of GRASFI, the Global Research Alliance for Sustainable Finance and Investment, took place at Maastricht University School of Business and Economics, bringing together researchers from around the world.
BNPP AM recently became the first asset management sponsor of GRASFI, a network of leading research universities worldwide established to promote rigorous and impactful academic research into sustainable finance and investment.
As part of its sponsorship, BNPP AM announced that it would be making a financial award to the authors of the winning academic paper presented at the conference, as judged by a multidisciplinary jury.
The winners of the award were named as Samuel M. Hartzmark and Abigail B. Sussman from the University of Chicago, for their study “Do Investors Value Sustainability? A Natural Experiment Examining Ranking and Fund Flows”. Their thought-provoking winning paper received the highest average ranking among more than a hundred nominated studies on sustainable finance and investment. Their study highlighted evidence that investors collectively value sustainability, with funds categorised as low sustainability seeing net outflows, while those categorised as high sustainability net inflows, as investment decisions are additionally influenced by non-pecuniary motives.
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