TY - CHAP
T1 - ESG and credit risk
AU - Gaganis, Chrysovalantis
AU - Pasiouras, Fotios
AU - Tasiou, Menelaos
PY - 2023/3/8
Y1 - 2023/3/8
N2 - In recent years, the incorporation of environmental, social and governance (ESG) factors into credit risk assessments has received attention from both academics and market participants. The present chapter consists of two main parts. The first part discusses academic studies that provide empirical evidence of the ESG-credit risk nexus and the implied mechanisms behind it. The second part discusses how the three major rating agencies (Fitch, Moody’s, S&P) view and incorporate ESG aspects into their credit ratings.
AB - In recent years, the incorporation of environmental, social and governance (ESG) factors into credit risk assessments has received attention from both academics and market participants. The present chapter consists of two main parts. The first part discusses academic studies that provide empirical evidence of the ESG-credit risk nexus and the implied mechanisms behind it. The second part discusses how the three major rating agencies (Fitch, Moody’s, S&P) view and incorporate ESG aspects into their credit ratings.
U2 - 10.1007/978-3-031-24283-0_6
DO - 10.1007/978-3-031-24283-0_6
M3 - Chapter (peer-reviewed)
SN - 9783031242823
T3 - Palgrave Macmillan Studies in Banking and Financial Institutions
SP - 125
EP - 143
BT - Sustainable Finance and ESG
A2 - Gaganis, Chrysovalantis
A2 - Pasiouras, Fotios
A2 - Tasiou, Menelaos
A2 - Zopounidis, Constantin
PB - Palgrave Macmillan
ER -