Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/308044 
Year of Publication: 
2024
Series/Report no.: 
SAFE Working Paper No. 438
Publisher: 
Leibniz Institute for Financial Research SAFE, Frankfurt a. M.
Abstract: 
A fundamental concern about green investing is that it may crowd out political support for public policy addressing negative externalities. We examine this concern in a preregistered experiment shortly before a real referendum on a climate law with a representative sample of the Swiss population (N = 2,051). We find that the opportunity to invest in a climate-friendly fund does not reduce individuals' support for climate regulation, measured as political donations and voting intentions. The results hold for participants who actively choose green investing. We conclude that the effect of green investing on political behavior is limited.
Subjects: 
Behavioral Finance
Climate Change
ESG
Externalities
Sustainable Finance
Political Economy
Voting Behavior
JEL: 
D14
H42
G18
P16
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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