Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/289626 
Year of Publication: 
2024
Series/Report no.: 
CFS Working Paper Series No. 719
Publisher: 
Goethe University Frankfurt, Center for Financial Studies (CFS), Frankfurt a. M.
Abstract: 
We assess how sustainable finance literacy affects people's sustainable investment behavior, using a pre-registered experiment. We find that an increase in sustainable finance literacy leads to a 4 to 5% increase in the probability of investing sustainably. This effect is moderated by sustainability preferences. In the absence of moderate sustainability preferences, any additional increase in sustainable finance literacy is at minimum irrelevant, and we find some evidence that it might even reduce sustainable investments. Our findings underscore the role of knowledge in shaping sustainable investment decisions, highlighting the importance of factors beyond sustainability preferences.
Subjects: 
Sustainable finance literacy
sustainable investments
behavioral finance
SFDR
MIFID
JEL: 
G11
G18
G53
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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