Archiv der Kategorie: Institutionelle Kapitalanleger

Bank climate risks: earth with tornado as illustration

Bank climate risks and more (Researchblog 113)

Bank climate risks: >20x new research on CO2 bio-capture, ESG ratings, inflation, greenwashing, diversity, gender pay gap, shareholder engagement, investment consultants, ML and hybrid robo-advisors

Social and ecological research

CO2 bio-capture: Scalable, Economical, and Stable Sequestration of Agricultural Fixed Carbon by Eli Yablonovitch and Harry Deckman as of Dec. 28th, 2022 (#129): “We describe a scalable, economical solution to the Carbon Dioxide problem. CO2 is captured from the atmosphere by cellulosic plants, and the harvested vegetation is then salted and buried in an engineered dry biolandfill. Plant biomass can be preserved for hundreds to thousands of years by burial in a dry environment … Current agriculture costs, and biolandfill costs indicate US$60/tonne of sequestered CO2 which corresponds to ~US$0.60 per gallon of gasoline. The technology is scalable owing to the large area of land available for cellulosic crops, without disturbing food production. If scaled to the level of a major crop, existing CO2 can be extracted from the atmosphere, and simultaneously sequester a significant fraction of world CO2 emissions” (abstract).

Regulated innovation: The effects of environmental innovations on labor productivity: How does it pay to be green by Hannu Piekkola and Jaana Rahko as of Jan. 10th, 2023 (#6): “This paper adds to the literature by examining environmental innovations as part of overall firm innovation activity among Finnish manufacturing and energy sector firms … Our empirical analysis shows that regulation-driven environmental innovations enhance productivity … Introducing new environmental regulations increases environmental innovativeness, which in turn leads to improved firm performance that can apparently compensate for all of the costs of regulation. Nordic firms may have benefited from a first-mover advantage by becoming green in many industries … Many companies set targets for themselves that are even stricter than what the regulations require because they want to set a model for other companies and stakeholders” (p. 21/22).

Advert for German investors: “Sponsor” my research by investing in and/or recommending my article 9 mutual fund. I focus on social SDGs and midcaps and use separate E, S and G best-in-universe minimum ratings. The fund typically scores very well in sustainability rankings, e.g. this free new tool, and the performance is relatively good: FutureVest Equity Sustainable Development Goals R – DE000A2P37T6 – A2P37T

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Nature picture as illustration for positive immigration blogpost

Positive immigration and more little known research (Researchposting 110)

Positive immigration: >20x new research on climate conflicts, inequality, immigration, gas price break, carbon pricing, solar sharing, cool cities, brown banks, greenwashing, biodiversity, analysts and consultants, voting and engagement and private equity by Christina Bannier, Lucian Bebchuk, Alexander Wagner et al.

Social research: Positive immigration and more

Climate conflicts: Climate Shocks and Domestic Conflicts in Africa by Yoro Diallo and René Tapsoba as of December 29th, 2022 (#8): “We build on a broad panel of 51 Africa countries over the 1990-2018 period. We unveil key results with far-reaching policy implications. First, we find suggestive evidence that climate shocks, as captured through weather shocks, increase the likelihood of domestic conflicts, by as high as up to 38 percent. Second, the effect holds only for intercommunal conflicts, not for government-involved conflicts. Third, the effect is magnified in countries with more unequal income distribution and a stronger share of young male demographics, while higher quality social protection and access to basic health care services, stronger tax revenue mobilization, scaled up public investment in the agricultural sector, and stepped-up anti-desertification efforts appear as relevant resilience factors to this vicious climate-conflicts nexus” (p. 26).

Wealth inequality: Who Gets the Flow? Financial Globalisation and Wealth Inequality by Simone Arrigoni as of December 13th, 2022 (#14): “The main result points towards a significant positive link between the increase in financial globalisation (proxied with the IFI) and changes in the top 1% (the rich) and 10% (upper middle-class) wealth shares and a significant negative link with changes in the wealth share of the bottom 50% of the distribution (working class). … I find that the main driving components of this result appear to be portfolio equities and financial derivatives. … I find that the increase in inequality following the acceleration in financial globalisation is driven by the flow. The wealthy get richer due to an expansion of their portfolios rather than just a market value gain on their existing stock of wealth. … the main finding is strengthened in the event of a systemic banking crisis“ (p. 25/26).

Gender inequality gaps: Tackling Gender Inequality: Definitions, Trends, and Policy Designs by Baoping Shang as of Dec. 21st, 2022 (#27): “… gender inequality needs to be distinguished from gender gaps. … addressing gender inequality benefits everyone, not just women. … as gender inequality becomes more subtle and implicit, targeted gender policies will likely need to play an increasing role … The paper concludes by discussing gaps in the literature and policy challenges going forward” (abstract).

Advert for German investors: “Sponsor” my research by recommending my article 9 fund. The minimum investment is approx. EUR 50 and return and risks are relatively good: FutureVest Equity Sustainable Development Goals R – DE000A2P37T6 – A2P37T: I focus on social SDGs and midcaps and use best-in-universe as well as separate E, S and G minimum ratings. The fund typically scores very well in sustainability rankings, see this new tool for example.

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Nature picture as illustration for positive immigration blogpost

Investors drive ESG (Researchblog #99)

Investors drive ESG: >10x new research on climate spillovers, plastic, supply chains, bribes, gender, credit, ESG, behavioral finance, hedge funds, art investments and Bitcoin by Luc Renneboog, Planet Tracker et al.

Ecological and social topics

Costly climate spillovers: Stress Testing the Global Economy to Climate Change-Related Shocks in Large and Interconnected Economies by Yeu Jin Jung, Camilo E. Tovar, Yiqun Wu, and Tianxiao Zheng as of October 4th, 2022 (#3): “Our simulations show that an extreme climate change-related shock in large and interconnected economies could have a systemic economic and financial impact on the global economy. … global losses as measured by the decline in global aggregate international reserve could reach $ 1.8 trillion. … these losses would be equivalent to nearly four times the size of the bailout packages for Greece, Portugal, and Ireland during European debt crisis. … ensuring an adequate use of domestic macroeconomic policies and support from the global financial safety net … can reduce the global reserve losses due to the climate change-related shock, by more than a half, to about $ 800 billion” (p. 21/22).

Advert for German investors: “Sponsor” my free research by buying my Article 9 fund. The minimum investment is around EUR 50. FutureVest Equity Sustainable Development Goals R – DE000A2P37T6 – A2P37T: With my most responsible stock selection approach, I focus on social SDGs and midcaps and use best-in-universe as well as separate E, S and G minimum ratings (compare Konzentration und SDG-Fokus gut: Meine 9 Monats Performance 2022 – Responsible Investment Research Blog (prof-soehnholz.com)).

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Zeitungen als Bild für ESG reporting

ESG reporting outperformance? (Researchblog #93)

ESG reporting outperformance: >20x new research on gender, food, climate risk, central banks, voluntary and mandatory ESG reporting and ratings, EU taxonomy, article 9 funds, divestments, voting, (debtholder) engagement, impact, capital costs, banks, conviction, SRI ETFs, islamic funds and real estate

Advert: Check my article 9 SFDR fund FutureVest Equity Sustainable Development Goals (-0,5% YTD). With my most responsible stock selection approach I focus on social SDGs and midcaps and use best-in-universe as well as separate E, S and G minimum ratings.

Social and Ecological Research

Genderlaw effects: Legal Gender Equality as a Catalyst for Convergence by Can Sever of the International Monetary Fund as of August 10th, 2022 (#4): “This paper … shows that more gender-equal laws facilitate income convergence across countries over time, thereby mitigating income inequality across countries. The results point to large economic gains from moving toward legal gender equality” (p. 26/27).

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ESG regulation: Das Bild von Thomas Hartmann zeigt Blumen in Celle

ESG overall (Researchblog #91)

ESG overall: >15x new research on fixed income ESG, greenium, insurer ESG investing, sin stocks, ESG ratings, impact investments, real estate ESG, equity lending, ESG derivatives, virtual fashion, bio revolution, behavioral ESG investing

Advert: Check my article 9 SFDR fund FutureVest Equity Sustainable Development Goals (-2,9% YTD). With my most responsible stock selection approach I focus on social SDGs and midcaps and use best-in-universe as well as separate E, S and G minimum ratings.

Continue on page 2 (# indicates the number of SSRN downloads on July 25th):

Bild zum Beitrag ESG skeptical zeigt eine Ansicht einer Allee aus dem Celler Französischen Garten

ESG skeptical research (Researchblog #90)

ESG skeptical: >15x new and skeptical research on ESG and SDG investments, performance, cost of capital, reporting, ratings, impact, bonifications and artificial intelligence

Advert: Check my article 9 SFDR fund FutureVest Equity Sustainable Development Goals. With my most responsible selection approach I focus on social SDGs and midcaps and use best-in-universe as well as separate E, S and G minimum ratings.

Continue on page 2 (# indicates the number of SSRN downloads on July 5th):

Heidebild als Illustration für Proven Impact Investing

ESG ok, SDG gut: Performance 1. HJ 2022

ESG ok, SDG gut: Im ersten Halbjahr 2022 haben meine Trendfolgeportfolios sowie die Portfolios, die sich an den nachhaltigen Entwicklungszielen der Vereinten Nationen ausrichten (SDG), zwar auch an Wert verloren, aber dafür relativ gut gegenüber Vergleichsgruppen performt. Das gilt besonders auch für den FutureVest Equities SDG Fonds. Anders als die meist OK gelaufenen globalen haben spezialisierte ESG Portfolios der Soehnholz ESG GmbH im ersten Halbjahr schlechter als traditionelle Vergleichsportfolios abgeschnitten. Dafür war deren Performance in der Vergangenheit oft überdurchschnittlich.

Werbemitteilung: Kennen Sie meinen Artikel 9 Fonds FutureVest Equity Sustainable Development Goals: Fokus auf soziale SDGs und Midcaps, Best-in-Universe Ansatz, getrennte E, S und G Mindestratings.

Auf Seite 2 folgt die Übersicht der Halbjahresrenditen für die 15 nachhaltigen und zwei traditionellen Portfolios von Soehnholz ESG sowie für meinen Fonds.

Pictures shows Fire Icon by Elionas

ESG and impact investments under fire (Researchpost #89)

Under fire includes >10x new research on ESG and factors, performance, commitment, regulation, scope 3 GHG, market potential, indices, reporting, engagement, and impact washing

Advert: Check my article 9 SFDR fund FutureVest Equity Sustainable Development Goals. With my most responsible selection approach I focus on social SDGs and midcaps and use best-in-universe as well as separate E, S and G minimum ratings.

Continue on page 2 (# indicates the number of SSRN downloads on June 28th):

Nachhaltigkeitsfragen als Screenshot einer Präsentationsfolie

Deadline August: Müssen dann andere Fonds angeboten werden?

Deadline August: Ab August müssen AnlegerInnen aufgrund regulatorischer Vorgaben (MiFID II, IDD) nach ihren Nachhaltigkeitspräferenzen befragt werden. Auch künftig ist zunächst weiterhin die sogenannte Geeignetheit zu prüfen, speziell Renditeerwartungen, Risikokriterien, Zeithorizont und individuelle Umstände von InteressentInnen. Vereinfacht zusammengefasst muss künftig im Anschluss daran gefragt werden, inwieweit eines oder mehrere dreier Nachhaltigkeitsprodukttypen in Anlagen einbezogen werden sollen: Erstens ein Produkt mit einem ein Mindestanteil an ökologisch nachhaltigen Investitionen oder, zweitens, einem Mindestanteil an sozial nachhaltigen Investitionen oder drittens mit einer Mindest-ESG-Gesamtbeurteilung.

Werbemitteilung: Kennen Sie meinen Artikel 9 Fonds FutureVest Equity Sustainable Development Goals R – DE000A2P37T6 – A2P37T mit Fokus auf soziale SDGs und Midcaps, Best-in-Universe Ansatz, getrennte E, S und G Mindestratings?

Auf Seite 2 geht es weiter:

Picture by SugarHima shows wooden fake wind generator to illustrate benchmarking problems

Benchmarking problems (Researchpost #88)

Benchmarking problems: Almost 20x new research on tax avoidance, net-zero illusions, brown and unsocial banks and mutual funds, negative ESG bonus, plastics, real estate, panic, monetary policy, missing data, wrong benchmarks, institutional herding, and fintechs

Advert: Check my article 9 SFDR fund FutureVest Equity Sustainable Development Goals. With my most responsible selection approach I focus on social SDGs and midcaps and use best-in-universe as well as separate E, S and G minimum ratings.

Continue on page 2 (# indicates the number of SSRN downloads on June 14th):