Brière, Marie, Pouget, Sébastien, Schmalz, Martin and Ureche-Rangau, Loredana (2022) Delegated Philantropy in Mutual Fund Votes on Climate Change. In: Climate Investing: New Strategies and Implementation Challenges Wiley. Chapter 12. Hoboken pp. 295-324. ISBN 978 1 786 30806 1

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Identification Number : 10.2139/ssrn.4133799


This chapter studies the votes of institutional investors on shareholder resolutions instructing corporations to mitigate climate change externalities. Our sample includes 238 US fund families that voted on 14,409 different shareholder resolutions at 2,700 companies over the period from 2013 to 2016. We find that, in line with the delegated philanthropy logic, fund families that have larger proportions of responsible investments display a larger support for resolutions on climate change. This result holds i) especially for fund families with large percentage of SRI, ii) whether ISS favors or not these resolutions, iii) when these resolutions end up being close call votes, and iv) when we focus only on fund families that have voted more than 50 or 100
resolutions on environmental and social issues

Item Type: Book Section
Language: English
Date: December 2022
Place of Publication: Hoboken
Uncontrolled Keywords: Climate change externalities, Delegated philantropy, Mutual Fund Families, Voting
Divisions: TSE-R (Toulouse)
Site: UT1
Date Deposited: 15 Feb 2023 14:33
Last Modified: 20 Mar 2023 15:33
OAI Identifier:
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