Climate Impact Investing - The Contribution of Sustainable Investments to the Achievement of Climate Targets


The joint project “Climate Impact Investing” (Climvest) aims to contribute to the discussion on the interdependencies between sustainable investments and the achievement of climate goals.

It consists of three subprojects.

Subproject 1: Coordination, frameworks and behavioral economic experiments

The first subproject collects, structures and analyzes the impact measurement frameworks and occasions used by capital market participants, compares the most common rating systems and verifies the existence of known biases from ESG rating. In addition, the willingness of retail investors to forego expected returns for climate-friendly investment products will be investigated by means of an investment experiment.

Prof. Dr. Christian Klein

Subproject 2: Empirical capital market analyses

The second subproject empirically investigates whether a climate-friendly capital market is already observable and to what extent climate-friendly investors are willing to forego parts of the return on their investment.

Subproject 3: Macroeconomic modeling

The third subproject uses macroeconomic modeling to investigate the effects of climate-friendly financing on real economic emissions. In addition, the mechanisms of increasing willingness to invest sustainably and measures influencing this willingness are investigated.