The recent and well debated topic of sustainable investments together with the contradiction of the typical sustainable individual and the typical investor constitutes the purpose for the empirical research. Secondary shareholder data obtained from the Central Securities Depositary, Euroclear Sweden, together with corporate sustainable ratings from Thomson Reuters contributes to portraying the typical Swedish sustainable investor. Together with previous research we find that women tend to invest more in sustainable companies than men and that a lower income is related to a higher degree of sustainable investments. In conflict with presented theories we state that, based on our sample, investors over age 65 hold more sustainable companies than their younger counterpart. Regarding gender the results show that women invest more in sustainable companies than men. / Hållbara investeringar är ett ämne som fått ett allt större fokus vid investeringsbeslut och påverkan på miljö och social rättvisa är högaktuellt i den vardagliga debatten. Den grupp individer som beskrivs vara intresserade av hållbarhetsfrågor i allmänhet är unga kvinnor. Samtidigt visar tidigare undersökningar att i sammanhanget investerare är den typiske investeraren en man över 50 år. Uppsatsens problemformulering utgår från denna skillnad mellan den hållbara individen och den typiske investeraren för att undersöka vilka investerare som står för investeringar i hållbara företag. De demografiska faktorerna kön, ålder, årsinkomst, portföljvärde och bostadsort används i uppsatsen för att identifiera skillnader mellan hållbara och icke-hållbara investerare. Samt ifall demografiska faktorer har något samband med en investerares grad av hållbarhet. Ägardata för de demografiska faktorerna har baserats på Euroclear Swedens värdepapperscentral. Företagen i urvalet har hållbarhetsklassificerats utifrån Thomson Reuters ESG-score, en betygsättning av företag med hänsyn till deras arbete kring miljö, social och bolagsstyrningspåverkan.  Tidigare forskning presenterar demografisk utformning för investerare som tar hänsyn till hur deras placeringar påverkar omvärlden. Enhälligt för tidigare forskning är att det är kvinnor som bryr sig om hållbarhet och investerar socialt ansvarsfullt, samt att unga investerare väljer i större utsträckning hållbarhet jämfört med äldre. För inkomst pekar tidigare forskning inte på en gemensam inkomstklass utan beroende på i vilket land undersökningen är gjord samt på vilken investerartyp den är gjord skiljer sig resultatet åt. Storstadsbor investerar enligt tidigare forskning mer hållbart än övrig befolkning och portföljvärdet för hållbara investerare beskrivs i regel vara lägre än för de icke hållbara. Genom t-test undersöks skillnaden mellan hållbara samt icke-hållbara och genom regressionsanalyser undersöks hur demografiska variabler har en påverkan på graden av hållbarhet i svenska privata aktieportföljer.  Undersökningen finner vad gäller skillnaden mellan hållbara och icke-hållbara investerare att variabeln ålder utgör en statistiskt signifikant skillnad mellan de olika investerartyperna. Resultatet talar emot den teoretiska referensramen och visar att investerare över 65 år har högst koncentration i hållbara företag, jämfört med åldersklasserna 18-44 och 45-64. Skillnaden mellan könen tyder även på att kvinnor investerar mer hållbart än män och att hållbara investerare har en lägre genomsnittlig inkomst än de icke hållbara investerarna.

Den Europeiska Unionen vill med Corporate Sustainability Reporting Directive (CSRD) standardisera hållbarhetsredovisning för företag som är verksamma inom unionen. Återigen kommer fler och fler företag omfattas av reglerna att behöva upprätta en obligatorisk hållbarhetsredovisning – vilket kan utgöra en utmaning för mindre erfarna små och medelstora företag. Denna studie undersökte små och medelstora företags syn på hållbarhetsredovisning samt deras uppfattning för dess kärnbegrepp; närmare bestämt ESG och materialitet. Studien utfördes genom semistrukturerade intervjuer med sex företag och med hjälp av sju respondenter. Studien visade att det finns en överväldigande positiv inställning till hållbarhetsredovisning bland de studerade företagen. Hursomhelst framgick det tecken på att företagen var bristfällig i vissa aspekter. Till exempel upplevde samtliga företag svårigheter med att koppla delar av sin verksamhet till hållbarhet på en bolagsstyrningsnivå (eng. governance). Liknande resultat upptäcktes för materialitet. Alla företag upplevdes ha svårigheter att begripa innebörden av begreppet ’materialitet’. Studien visade, trots svårigheten att begripa innebörden av materialitet, att de studerade företagen visade tecken på att vara effektiva i identifieringen av materiella hållbarhetsaspekter. / The European Union wants to standardize sustainability reporting with the implementation of the Corporate Sustainability Reporting Directive (CSRD). Once again, more and more enterprises will be subject to the mandatory requirements to disclose sustainability information – which may pose a challenge for less experienced small and medium sized enterprises. This study examines the perception of small and medium sized enterprises on sustainability reporting and its foundational concepts; namely environmental, social and governance (ESG) and materiality. The study was conducted on six individual companies and seven interviewees in total. The study concludes that there exists an overwhelmingly positive perception of sustainability reporting amongst the studied enterprises. However, there were signs that the studied companies were deficient in certain aspects. For example, all enterprises experienced difficulties in identifying aspects of their business that could be linked with governance sustainability. Similar results were discovered on the materiality topic. All enterprises had difficulties in understanding the term ‘materiality’. The study concludes that, despite the difficulty understanding materiality, the studied enterprises showed signs of being efficient in identifying material sustainability topics.

This study investigates the effectiveness of public sector roles in facilitating corporate social responsibility (CSR) in commercial banks in the United States and the United Kingdom and the role of national context in CSR activities of commercial banks. It examines CSR as measured by MSCI ESG (environmental, social and governance) Global Socrates ratings across five categories of ESG (environment, employee & supply chain, customers, corporate governance & ethics, and community & society) in six commercial banks. The study compared differences in ESG rankings to categorized CSR-related government bodies, legislation and policies according to four possible public sector roles as outlined by the World Bank: mandating, facilitating. endorsing or partnering for CSR. The principal conclusion is that national context seems to play a role in CSR activities of commercial banks and that certain CSR-related public policy tools appear to be more effective at supporting CSR than others. / McAnulty College and Graduate School of Liberal Arts / Graduate Center for Social and Public Policy / MA / Thesis

Thesis advisor: Richard Spinello / This thesis studies the effects of greenwashing in the fashion industry on the Generation Z cohort. It aims to understand the behaviors, motivations, attitudes, and processes behind their clothing shopping habits, including external and internal factors. It seeks to broaden the discussion around greenwashing in the 21st century, especially in the current age where firms are being evaluated on their Environmental, Social, and Governance practices. Therefore, it includes an extensive research background, including a brief history of greenwashing as a marketing tactic, the fashion industry, a study of clothing supply chains, and finally background information on Generation Z and their generational characteristics.This, as well as the small research study conducted at Boston College, all inform the conclusions of this study. / Thesis (BA) — Boston College, 2022. / Submitted to: Boston College. College of Arts and Sciences. / Discipline: Departmental Honors. / Discipline: Environmental Studies.

This thesis studies the effects of greenwashing in the fashion industry on the Generation Z cohort. It aims to understand the behaviors, motivations, attitudes, and processes behind their clothing shopping habits, including external and internal factors. It seeks to broaden the discussion around greenwashing in the 21st century, especially in the current age where firms are being evaluated on their Environmental, Social, and Governance practices. Therefore, it includes an extensive research background, including a brief history of greenwashing as a marketing tactic, the fashion industry, a study of clothing supply chains, and finally background information on Generation Z and their generational characteristics.This, as well as the small research study conducted at Boston College, all inform the conclusions of this study. / Thesis ( BA ) — Boston College, 2022 . / Submitted to: Boston College. College of Arts and Sciences . / Discipline: Departmental Honors . / Discipline: Environmental Studies .

This thesis studies the effects of greenwashing in the fashion industry on the Generation Z cohort. It aims to understand the behaviors, motivations, attitudes, and processes behind their clothing shopping habits, including external and internal factors. It seeks to broaden the discussion around greenwashing in the 21st century, especially in the current age where firms are being evaluated on their Environmental, Social, and Governance practices. Therefore, it includes an extensive research background, including a brief history of greenwashing as a marketing tactic, the fashion industry, a study of clothing supply chains, and finally background information on Generation Z and their generational characteristics.This, as well as the small research study conducted at Boston College, all inform the conclusions of this study. / Thesis ( BA ) — Boston College, 2022 . / Submitted to: Boston College. College of Arts and Sciences . / Discipline: Departmental Honors . / Discipline: Environmental Studies .

The aim of this thesis is to investigate whether certain information, in this case, ESG rating, contributes to better firm performance on the stock market during Covid-19, or whether variables such as size and industry have a higher degree of explanation. The thesis takes on a quantitative method and uses statistical models to analyze secondary data from Refinitiv Eikon. Empirical results provide no evidence that ESG ratings would affect stock market performance during Covid-19. Furthermore, size and industry do not increase the degree of explanation for the relationship. This can be explained by investors' outlook on sustainable investments and the relevance of ESG on the Swedish stock market. Previous research on the relationship between performance in the stock market and ESG ratings has mainly examined larger economies such as the US and the UK or had a global focus. By focusing on the Swedish stock market and including the variables size and industry in the relationship between stock performance and ESG, the thesis adds to a further understanding of the Swedish stock market. This thesis also broadens the perspective of ESG by questioning it as a relevant source of information.

Submitted by Alexandre Garcia (atgempresarial@uol.com.br) on 2017-05-16T23:01:38Z No. of bitstreams: 1 Tese Alexandre Sanches Garcia com ficha catalografica.pdf: 1908550 bytes, checksum: f5e1873071e0854913a4ca08177a36bd (MD5) / Approved for entry into archive by Pamela Beltran Tonsa (pamela.tonsa@fgv.br) on 2017-05-17T14:16:49Z (GMT) No. of bitstreams: 1 Tese Alexandre Sanches Garcia com ficha catalografica.pdf: 1908550 bytes, checksum: f5e1873071e0854913a4ca08177a36bd (MD5) / Made available in DSpace on 2017-05-17T18:35:55Z (GMT). No. of bitstreams: 1 Tese Alexandre Sanches Garcia com ficha catalografica.pdf: 1908550 bytes, checksum: f5e1873071e0854913a4ca08177a36bd (MD5) Previous issue date: 2017-04-20 / In the last two decades, a growing number of executives have allocated time and resources on business strategy issues that involve corporate social responsibility (LACY; COWER, HAYWARD; NEUBERGER, 2010). Porter and Van der Linde (1995) already affirmed that we are passing through a phase of transition of the industrial history, in which the executives begin to realize investments in Environmental, Social and Governance (ESG) factors like an economic and competitive opportunity, instead of cost or threat. But the question that remains nanswered is: when is it worth adopting these socio-environmental strategies? The central objective of this study is to measure the socio-environmental performance of companies and their relationship with economic and financial performance, investigating under what circumstances pays-to-be-green is worth. In this sense and based on the discussions in competitive socio-environmental strategies, such as the Porter Hypothesis and the Natural Resource Based View (NRBV), in addition to the literature on institutional and stakeholder theories, the present study sought to show performance in ESG of companies in various circumstances. Considering the institutional, cultural and regulatory differences between countries, the ESG performance and its relation to the financial performance of companies from emerging and developed countries were investigated. It also investigated whether the company's stock sustainability index results in better performance, ESG and financial, compared to companies not listed in these indexes. Through the ASSET4 database, the panel data methodology was used with 2,165 companies from developed and emerging countries. The results allow us not to reject the hypotheses raised that there is a prevalence of the institutional environment in relation to financial performance and ESG performance, indicating that there is a positive association in the economic-financial performance and ESG of companies only in developed countries. In companies in emerging countries, this relationship is negative. In addition, it has been found that being listed on a stock exchange sustainability index, while bringing better ESG performance to the company, does not cause a reflection on its economic-financial performance. Additionally, it was found that companies belonging to sectors of economic activities considered controversial have better ESG performance than companies from other sectors. These results contribute to the debate on the theme "pays-to-be-green", showing that possible methodological differences used in several academic works explain the contradictory results found so far. The results of this work show that corporate executives and public managers from emerging economies still have a long way to go in pursuing ESG best practices. / Nas últimas duas décadas, um número crescente de executivos tem alocado tempo e recursos em assuntos de estratégia empresarial que envolve a responsabilidade social das organizações (LACY; COOPER; HAYWARD; NEUBERGER, 2010). Porter e Van der Linde (1995) já afirmava que estamos passando uma fase de transição da história industrial, na qual os executivos começam a perceber investimentos em fatores Environmental, Social and Governance (ESG) como uma oportunidade econômica e competitiva, ao invés de custo ou ameaça. Mas a pergunta que ainda fica sem resposta é: quando vale a pena adotar essas estratégias socioambientais? O objetivo central desse estudo é a mensuração do desempenho socioambiental das empresas e sua relação com o desempenho econômico-financeiro investigando em que circunstâncias vale a pena ser verde (pays-to-be-green). Nesse sentido e pautado pelas discussões em estratégias socioambientais competitivas, como a Hipótese de Porter e a Natural Resource Based View (NRBV), além da literatura das teorias institucional e do stakeholder, o presente estudo buscou mostrar o desempenho ESG das empresas em diversas circunstâncias. Considerando as diferenças institucional, cultural e regulamentar entre países, foram investigados os desempenhos ESG e sua relação com o desempenho financeiro das empresas pertencentes a países emergentes e de países desenvolvidos. Também investigou se o fato da empresa pertencer a índices de sustentabilidade de bolsas de valores resulta em melhores desempenhos, ESG e financeiro, comparados às empresas não listadas nesses índices. Por meio do banco de dados ASSET4, foi utilizada a metodologia de dados em painel com 2.165 empresas de países desenvolvidos e de países emergentes. Os resultados permitem não rejeitar as hipóteses levantadas de que há prevalência do ambiente institucional na relação desempenho financeiro e desempenho ESG, indicando que há associação positiva no desempenho econômico-financeiro e ESG das empresas somente dos países desenvolvidos. Já nas empresas de países emergentes essa relação é negativa. Além disso, verificou-se que estar listada em índice de sustentabilidade de bolsas de valores, embora gere melhor desempenho ESG para a empresa, não causa reflexo no seu desempenho econômico-financeiro. Adicionalmente, foi constatado que empresas pertencentes a setores de atividades econômicas consideradas polêmicas possuem melhor desempenho ESG do que empresas dos outros setores. Tais resultados contribuem para o debate do tema “pays-to-be-green”, mostrando que possíveis diferenças metodológicas utilizadas em diversos trabalhos acadêmicos explicam os resultados contraditórios até então encontrados. Os resultados desse trabalho mostram que os executivos das empresas e gestores públicos de países de economia emergente ainda tem um longo caminho a percorrer na buscar por melhores práticas ESG.

I dagsläget står vår omvärld inför flertal utmaningar utifrån ett miljö- och socialt perspektiv. En effekt av detta är att efterfrågan av hållbara investeringsalternativ har ökat hos privatpersoner. I takt med att medvetenheten om hur privatpersoners investeringar kan bidra till en förbättrad omvärld har andelen svenska människor som söker investeringar i hållbara fonder ökat. Genom att investera pengar i hållbara fonder kan privatpersoner påverka hur företag arbetar ur ett miljö- och socialt perspektiv. Hållbara fonder söker investeringsalternativ som leder till en positiv klimatpåverkan och social påverkan genom ett långsiktigt värdeskapande. Information om hur hållbara fondbolag går till väga för att identifiera och investera i hållbara alternativ är dock bristande vilket kan leda till att privatpersoner inte vet hur deras pengar hanteras utav fondbolagen vid val av investeringar. Denna studie har som syfte att beskriva och analysera vilka investeringsstrategier svenska fondbolag använder för att identifiera hållbara investeringar. Studien har anpassat en kvalitativ metod och, med hjälp av fyra semistrukturerade intervjuer med svenska fondbolag, samlat in data avseende hur de går till väga innan, under och efter investeringsbeslut. Studiens slutsats är att fondbolagen använder negativ- och positiv screening baserat på ESG-kriterier för att identifiera hållbara investeringsalternativ. Efter det att fondbolagen har investerat i ett företag använder fondbolagen olika former av engagemang för att säkerställa att investeringen fortsatt förblir hållbar. / The global community is currently facing various environmental and social challenges, leading to an increased demand for sustainable investment options among private individuals. In response, the proportion of Swedish individuals seeking sustainable investment options has grown. This study describes and analyzes the investment strategies used by Swedish fund companies to identify sustainable investments. A qualitative method was applied and included four semi-structured interviews with Swedish fund companies. The results indicate that fund companies use negative and positive screening based on ESG criteria to identify sustainable investment opportunities and employ various forms of engagement to ensure the sustainability of the investment. This study contributes to the understanding of how fund companies identify sustainable investments and can inform private individuals on the processes used by such companies.

This thesis contributes to the currently still sprawling literature on the force of sustainable investing together with the “Big Five” personality structure (Openness to Experience, Conscientiousness, Extraversion, Agreeableness and Neuroticism). By investigating which personality trait, based on the Big Five personality taxonomy, that was willing to exchange revenue for a higher ESG rating in a hypothetical investment fund, we were able to determine when private investors were willing to pay more for a more sustainable investment. We use new data from our own questionnaire where the respondents are adult individuals residing in Sweden who has invested in the stock market. The data was analyzed with an econometric approach and for the regression ordinary least square and tobit was used. The results revealed that two personality traits (conscientiousness and agreeableness) tended to be less interested in sustainable investments, as they were not willing to pay for a fund with a higher ESG rating, unlike Openness to Experience, where the willingness to pay was high. The other two traits also showed a positive relationship and thus willingness to trade revenue for sustainability. This thesis contributes to the knowledge on how the personality of the private investors can motivate investment decisions and the preference of companies they invest in.