Finance and Accounting Research Seminar with Professor Alain Naef
Department of Finance and Accounting
You are invited to attend an Department of Finance and Accounting Research Seminar with Professor Alain Naef, Bank of France.
| An UEBS Department of Finance and Accounting seminar | |
|---|---|
| Speaker(s) | Professor Alain Naef, Bank of France |
| Date | 11 October 2023 |
| Time | 13:45 to 14:45 |
| Place | Building:One Syndicate Room B (Teams Link available from n.yendell@exeter.ac.uk) |
Event details
Abstract
Has fossil fuel divestment started? Evidence from investor data
There is a lot of talk of fossil divestment. Is there any action? We show that if fossil fuel divestment is not widespread, it has started in religious organisations, universities and some public entities. Our paper uses reported ownership shares in fossil fuel companies and their evolution over the last two decades. We find that in certain clusters, divestment is the norm. For example, over 84% of public UK pension funds have divested from all fossil fuel companies. Equally, the data shows a surge of divestment in June 2015 in religious organisations. According to divestment theory, these three categories of investors (religious, academic and public) are the first three to initiate divestment in previous successful divestment campaigns. So we ask, has divestment really started?
We are delighted to welcome Professor Alain Naef from Bank of France to present a seminar details of which are below along with a sign up sheet for dinner, lunch and one-to-ones
(Please note dinner and lunch are only open to faculty staff and not PhD students): Sign up sheet
Location:
Building:One Syndicate Room B
