Climate Impact Investing – Der Beitrag Nachhaltiger Geldanlagen zur Erreichung der Klimaziele (Climvest)

Duration: July 2022 - June 2025

Project Leader: Prof. Dr. Christian Klein - Department of Sustainable Finance at the University of Kassel

Project partners: Prof. Dr. Ottmar Edenhofer, Dr. Kai Lessmann - Potsdam Institute for Climate Impact Research (PIK); Prof. Dr. Marco Wilkens, PD Dr. Martin Rohleder - University of Augsburg; Prof. Dr. Andreas Ziegler, Dr. Gunnar Gutsche - Department of Empirical Economics at the University of Kassel

Funding institution: Federal Ministry of Research, Technology and Space (BMFTR)

Summary : Overcoming the global climate crisis and the associated transformation process of the entire economic system presents the world with major challenges. In this project, we are investigating whether and how sustainable investments can contribute to achieving the goals of the Paris Climate Agreement. From a practical and academic point of view, the specific question is which interdependencies on the capital markets can be used to achieve these goals. Using various methodological approaches, such as empirical studies, behavioral economic experiments and model theory, we will answer the question of whether a climate-friendly capital market already exists and to what extent differences in the willingness to pay for climate-friendly investments are decisive for a climate-friendly capital market. We will examine how large these differences are and how they can affect corporate strategies through so-called "engagement activities" of shareholders. Finally, we will analyze how the environmental impact of climate-friendly forms of financing can be measured.