The Centre for Economic Policy Research (CEPR) Research Policy Network (RPN) on Sustainable Finance organized a Webinar on Decarbonizing Large Portfolios on Monday, 12 June 2023, 05:00-06:30 PM (CEST) with Patrick Bolton (Columbia Business School, CEPR & RPN Steering Committee Member) and Dirk Schoenmaker (Erasmus University Rotterdam, CEPR & RPN Leader).

Institutional investors are decarbonising their portfolios. An important reason for decarbonisation is to avoid transition risk, when fossil fuels are phased out. Another reason is to limit global warming. What is the most effective strategy for institutional investors to encourage companies to accelerate the transition of their business model towards low-carbon technologies and products: exit (divestment) or voice (engagement)? The speakers reviewed the implementation and effectiveness of the various strategies.

The discussion and Q&A session with the audience was moderated by Tim Phillips.

Speakers

Patrick Bolton

Barbara and David Zalaznick Professor Emeritus of Business and Professor Emeritus of Economics Finance Columbia University; Visiting Professor of Finance Imperial College London

Dirk Schoenmaker

Professor of Banking and Finance, Rotterdam School of Management Erasmus University Rotterdam

Moderator