Faculty & Research - Business & Environment

Filter Results: (67)

67 Results

May 2020
Teaching Material

SK Group: Social Progress Credits

By: George Serafeim, Ethan Rouen and David Freiberg

Teaching Plan for HBS Case 120-071.

May 2020
AEA Papers and Proceedings

Tackling Climate Change Requires Organizational Purpose

By: Rebecca Henderson and George Serafeim

Unchecked climate change presents a profound threat to economic growth and political stability but despite widespread public concern about the issue, global emissions of greenhouse gases (GHGs) have not declined. Indeed current “business as usual” predictions imply...

2020
Financial Analysts Journal

Public Sentiment and the Price of Corporate Sustainability

By: George Serafeim

Combining corporate sustainability performance scores based on environmental, social, and governance (ESG) data with big data measuring public sentiment about a company’s sustainability performance, I find that the valuation premium paid for companies with strong...

2020
Working Paper

Corporate Environmental Impact: Measurement, Data and Information

By: George Serafeim, DG Park, David Freiberg and T. Robert Zochowski

As an organization’s environmental impact has become a more important societal consideration, thereby affecting industry and organizational competitiveness, interest in measuring and analyzing environmental impact has increased. We develop a methodology to derive...

March 2020
Accounting Horizons

Voluntary, Self-Regulatory, and Mandatory Disclosure of Oil and Gas Company Payments to Foreign Governments

By: Paul M. Healy and George Serafeim

Concerns about high rates of government corruption in resource-rich countries have led transparency advocates to urge oil and gas firms to disclose payments to host governments for natural resources. Transparency, they argue, can increase government accountability and...

Financial Times

Companies Must Include Environmental and Social Performance Measures

By: George Serafeim

February 2020
Case

Sustainable Product Management at Solvay

By: George Serafeim, Vincent Dessain and Mette Fuglsang Hjortshoej

In November 2019, Ilham Kadri, CEO of Solvay, a Belgian specialty chemicals and advanced materials group with annual revenues of more than 10 billion in 2018, announced the group’s mid-term strategy, eight months after she took the helm as Solvay’s 11th CEO. The case...

2020
Working Paper

A Preliminary Framework for Product Impact-Weighted Accounts

By: George Serafeim, Katie Trinh and T. Robert Zochowski

While there has been significant progress in the measurement of an organization’s environmental and social performance, metrics to evaluate the impact of products once they come to market lag far behind. In this paper we provide a framework for systematic measurement...

Forthcoming
Journal of Business Ethics

Material Sustainability Information and Stock Price Informativeness

By: Jody Grewal, Clarissa Hauptmann and George Serafeim

As part of the SEC’s revision of Regulation S-K, many investors proposed the mandatory disclosure of sustainability information in the form of environmental, social, and governance (ESG) data. However, progress is contingent on collecting evidence regarding which...

January 2020
Case

BlackRock: Linking Purpose to Profit

By: Rohit Deshpandé, Aiyesha Dey and George Serafeim

The case revolves around the actions that Barbara Novick, co-founder and Vice-Chair of Blackrock, and Michelle Edkins, Global Head of Investment Stewardship, would need to take in response to the controversial CEO letters from Laurence (Larry) Fink, Chairman and CEO of...

2019
Book Chapter

The Consequences of Mandatory Corporate Sustainability Reporting

By: Ioannis Ioannou and George Serafeim

A key aspect of the governance process inside organizations and markets is the measurement and disclosure of important metrics and information. In this chapter, we examine the effect of sustainability disclosure regulations on firms’ disclosure practices and...

October 16, 2019
Institutional Investor

Where ESG Fails

By: Michael E. Porter, George Serafeim and Mark Kramer

We are entering a new stage of understanding of the linkage between investment performance and social impact. Previous approaches, such as socially responsible investing and environmental, social, and governance (ESG) screening, have obscured the opportunities for...