Arbeitspapier
When green meets green
What is the impact of environmental consciousness (i.e., being green) as borrower and as lender on loan rates? We investigate this question employing an international sample of syndicated loans over the period 2011-2019. We find that green firms borrow at a signifi- cantly lower spread, especially when the lender consortium can also be classified as green, i.e., when "green-meets-green". Further tests reveal that the impact of "green-meets-green" became significant and large negative only after the acceptance of the Paris Agreement in December 2015. We argue that this is evidence for lenders responding to policy events which affect environmental attitudes.
- Sprache
-
Englisch
- Erschienen in
-
Series: NBB Working Paper ; No. 392
- Klassifikation
-
Wirtschaft
Relation of Economics to Social Values
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Valuation of Environmental Effects
Environmental Economics: Government Policy
- Thema
-
Paris Agreement
Green Firms
Green Banks
Bank Lending
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Degryse, Hans
Goncharenko, Roman
Theunisz, Carola
Vadasz, Tamas
- Ereignis
-
Veröffentlichung
- (wer)
-
National Bank of Belgium
- (wo)
-
Brussels
- (wann)
-
2020
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Degryse, Hans
- Goncharenko, Roman
- Theunisz, Carola
- Vadasz, Tamas
- National Bank of Belgium
Entstanden
- 2020