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Conference Venue & Accommodation

Main Conference venue

Then GRASFI 2022 will be held at the beautiful Kunsthaus Zürich. Together with the existing Kunsthaus building, it constitutes Switzerland’s largest art museum.

Parallel paper sessions will take place in the Kunsthaus and in RAA building of the University of Zurich.

Kunsthaus Zürich: Heimplatz 1 in 8001 Zürich

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Neue kunsthaus
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University of Zurich RAA - Rämistrasse 59

UZH RAA Lichthof
UZH - RAA - Aussenansicht
UZH - RAA - Aula

Reception and Dinner venues

Reception and dinner on 5 September will take place at the Zunfthaus Zimmerleuten Restaurant  and on 6 September on lake Zurich onboard the Panta Rhei.

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Zunfthaus
Web zunfthaus zimmerleuten zurich
Panta rhei 1
Ms panta rhei 2 hauptdeck 5

We have created a list of accommodation options near the Conference venue. Please click on the link below to view it.

ACCOMMODATION OPTIONS

Supporters

GRASFI 2022 has been generously supported by:

BNP PARIBAS Asset Management
Zürcher Kantonalbank
Logo swiss sustainable finance
Logo uzh foundation
Logo impact foundation
Logo imperial college finance investment

GRASFI

5th Annual Conference

5 - 7 September, Zurich, Switzerland

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Date and Time

Monday, 5 September 2022

14:45 – 16:15 CET

Session

Paper Session A1

ESG-Ratings & Data: How do we make sense of it?

Session Chairs:
Prof. Timo Busch, Hamburg University
Bérénice Lasfargues, BNP Paribas AM

PAPERS

 

Exploring ITR score: Framing robust company-specific benchmarks and future company-level GHG emissions ranges

Authors: Ruben Haalebos and Felix Fouret

ESG Rating Revisions and Stock Returns

Authors: Rients Galema and Dirk Gerritsen

Divestment, information asymmetries, and inflated ESG ratings

Authors: Bram van der Kroft and Dennis Bams.

Abstracts

Exploring ITR score: Framing robust company-specific benchmarks and future company-level GHG emissions ranges

As Investors are looking to align their portfolios with the goals of the Paris Agreement, portfolio metrics like Implied Temperature Rise (ITR) are becoming increasingly popular. We describe a Task Force on Climate-Related Financial Disclosures-aligned ITR methodology and benchmark the results.

ESG Rating Revisions and Stock Returns

We study the six-month impact of ESG rating revisions on U.S. stocks. Decreases are followed by annualized negative returns of 3%, which are not driven by ESG-specific news; partly driven by sustainable index changes; and in line with long-term investors decreasing holdings after a rating decrease.

Divestment, information asymmetries, and inflated ESG ratings

We causally show that ESG ratings are inversely related to sustainable performance because firms face cost of capital incentives to inflate ratings given socially responsible investing under information asymmetries. Consequently, their promises of future sustainable performance do not realize, even up to 15 years in the future.