Is Science-Based Target Initiative-certification of Companies’ Climate Targets Rewarded by Capital Markets?

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No, according toour results ! The SBTi certification generated an estimated drop in the share price of -1.39 % on the 21-day event window around the certification announcement. Green bonds is a better proxy. With such results, policymakers should consider how to incentivise the private sector to participate in the global efforts to respect the Paris Agreement goals and objectives..

Climate change is increasingly recognised as one of the most, if not the most, crucial challenges on the global agenda, as illustrated by the strong echo of the latest report released by the IPCC in August 2021 [1] and the Cop26 summit in Glasgow, in November 2021. Since there is no doubt that investments and decarbonisation efforts from the private sector are essential to comply with the Paris Agreement voted in 2015, companies are now under pressure for climate action. This article wishes to contribute to the literature that examines how a firm’s climate performance impacts its stock ...

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Banque et Stratégie Nº408