The Energy Crisis as a Game Changer for Sustainable Investing?

Inhaltsverzeichnis

Bibliographische Infos

Cover der Ausgabe: Swiss Journal of Business Jahrgang 79 (2025), Heft 4
Open Access Vollzugriff

Swiss Journal of Business

Jahrgang 79 (2025), Heft 4

Autor:innen:
Verlag
Nomos, Baden-Baden
Copyrightjahr
2025
ISSN-Online
2944-3741
ISSN-Print
2944-3741

Kapitelinformationen

Open Access Vollzugriff

Jahrgang 79 (2025), Heft 4

The Energy Crisis as a Game Changer for Sustainable Investing?

Autor:innen:
ISSN-Print
2944-3741
ISSN-Online
2944-3741
Kapitelvorschau:

Der vorliegende Beitrag untersucht die finanzielle Performance von Investitionen in Aktien mit unterschiedlichen ESG-Nachhaltigkeitsratings vor und nach der ab 2021 aufkeimenden Energiekrise. Es wird analysiert, ob die Energiekrise zu einer Verbesserung oder Verschlechterung der Performance von nachhaltigeren Aktieninvestitionen im Vergleich zu weniger nachhaltigen Aktieninvestitionen geführt hat. Die bestehende Literatur hat sich bislang noch nicht adäquat mit der Beziehung zwischen dem Risiko-Rendite-Profil von Aktien und dem ESG-Rating ihrer Emittenten vor dem Hintergrund der Energiekrise auseinandergesetzt. Die Ergebnisse deuten darauf hin, dass die Energiekrise erhebliche Veränderungen im Risiko-Rendite-Profil von Aktien nachhaltiger Unternehmen im Vergleich zu Titeln weniger nachhaltiger Unternehmen ausgelöst hat. In früheren Krisen mit anderen ökonomischen Hintergründen zeigten nachhaltige im Vergleich zu weniger nachhaltigen Aktien ein ähnliches Verhalten. Die Analyseergebnisse liefern Entscheidungshilfen für Asset-Manager sowie für wirtschaftspolitische Entscheidungsträger bei der Gestaltung von Subventionen.

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