This project econometrically decomposes Environmental, Social, and Governance (ESG) scores into the component due to companies greenwashing and a part corresponding to companies’ actions. The first part of the research quantifies the amount of greentalk (how much companies discuss environmental concerns) that occurs on company conference calls. The second part involves econometrically decomposing the ESG scores into the component due to greentalk and the element due to actual environmental change (measured using CO2 emissions).

Shimon Kogan

Adjunct Associate Professor of Finance
Shimon Kogan is an adjunct associate professor in the Finance Deparement at The Wharton School.