EIEE Webinar-Seminar
18 September, h 12:00 CEST
To join the webinar, register here
Speaker: Clément Mazet-Sonilhac, Bocconi University
Moderator: Francesco Granella, CMCC
The webinar will present research on whether retail depositors respond to information that their bank contributes to climate change. Using novel data on NGO campaigns targeting financial institutions involved in fossil fuel financing, an index of French banks’ “brown” reputation is constructed. Combining this measure with granular data on household deposits from 2010 to 2020 shows that negative environmental publicity reduces deposit volumes. This effect intensifies after a 2017 regulatory reform that removed transaction costs for switching bank accounts, suggesting that households act on environmental preferences when frictions are low. A one-standard-deviation increase in brown reputation leads to a 2% decline in sight deposits post-reform, with larger effects in counties with stronger green political preferences.
HOW TO PARTICIPATE
18 September, h 12:00 CEST
To join the webinar, register here
ORGANIZED BY:
CMCC, EIEE