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Financial Sector

  • Focus on the financial sector due to the importance of:

    • its functions: pooling of savings, long-term investments, risk management, monitoring, control of corporations
    • its actors: pension funds, banks, insurance companies, asset managers
    • its location: Zurich as a world financial centre
    • its impact potential: promotion of corporate responsibility and sustainability in the rest of the economy
  • Nexus between fundamental asset valuation, asset allocation, and sustainability: selection criteria, performance measures, allocation rules, and impact measures
  • Financial markets with heterogeneous agents: role of SRI criteria, policy implications from a general equilibrium perspective
  • Financial instruments and international environmental problems: certificates, emissions trading, role of institutions
  • Pension funds and long-term development: allocation rules for pension funds, impact analysis
  • Financial markets and different sustainability concepts: weak and strong sustainability, alternative welfare measures
  • Incentives for sustainable investments: role of discounting and individual objective functions