Workshop Title:

Decoupling Corporate Finance Implications of Firm Climate Action

Date:

August 26th, 2024 (GMT+1)

Organizer:

The Business School, Edinburgh Napier University

Keywords:

  • green innovation
  • climate change risk
  • firm climate actions
  • climate change

Workshop Chair:

Prof. Gbenga Adamolekun
Assistant Professor in Edinburgh Napier University

Personal Bio:

Dr Gbenga Adamolekun is an Assistant Professor (Lecturer) in Finance at Edinburgh Napier University. Before his current position, he held similar roles at the Coventry University. His research is largely situated in the areas of sustainable finance and corporate finance. He is interested in decoupling how corporate green transition or failure to transit affects various corporate outcomes. His work has been published in various journals including the Journal of Environmental Management, Abacus, Economics Letters, Finance Research Letters, and Management Decision Economics. He is also a member of the Editorial Board of the Journal of Investment and Management.

Workshop Committee Members

Dr. Frank Kwabi De Mont Fort University frank.kwabi@dmu.ac.uk

Dr. Anthony Kyiu Durham University anthony.k.kyiu@durham.ac.uk

Dr. Nana Kwansa Heriot-Watt University n.kwansa@hw.ac.uk

Dr. Rilwan Sakariyahu Edinburgh Napier University r.sakariyahu@napier.ac.uk

Workshop Description:

Background:

The call for sustainable corporate practices has garnered significant attention in the last decade. One aspect that has been central to most conversations is corporate greenness. In particular, corporate transition to greener production processes. In response to this pressure, corporations all around the world are divesting from carbon-intensive production processes or in some instances, they are making an effort to ensure existing dirty productions are carbon. neutral. Nonetheless, some corporations have chosen a dismissive stance on the issue. Despite the burgeoning conversation on the adoption or non-adoption of greener production processes, there is a paucity of research on the corporate finance implications of corporate climate actions or inaction.

Goal/Rationale:

On one hand, market participants may punish firms that have chosen not to transition to greener production processes.

This may be evident in the cost of equity, cost of debt or other corporate finance outcome. Such firms may evade market penalties if failure to transition translates to cheaper production processes and consequently higher earnings. An alternative proposition is that transitioning could increase investor confidence, lessen the cost of capital and in effect lead to potential market-dominating positions. Empirical literature testing this phenomenon is scant. The goal of the workshop is to stimulate discussion around this issue.

Scope and Information for Participants:

We welcome studies in the following areas
Emission Trading Schemes
Bankruptcy Risk
Climate Action
Cost of Equity
Cost of Debt
Green Innovation

Venue:

9 Sighthill Ct, Edinburgh EH11 4BN, United Kingdom

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Attend in person:

If you want to attend the workshop on-site, please email the Conference Committee: info@icemgd.org.