... Our results reveal a positive association of environmental, social and governance performance with dividend payout. The individual components, i.e. environmental performance, social performance and governance performance, also highlight similar positive relationships, stating that sustainable firms...

... for managing and reducing these emissions (Wegener et al., 2013 ; Matsumura et al., 2014). Therefore, CDP is often used as a measure for environmental performance (e.g. Kim and Lyon, 2011 ; Griffin et al., 2017). (In Canada, 60% of the top 200 largest firms listed on the Toronto...

... generated for comparison. Changes in environmental and financial performance over time between the sub-groups are then examined. Findings The overall results show that green bonds are effective in improving environmental performance, but only when they are certified by third parties. Additionally, green...