Counterproductive Sustainable Investing: Is Brown the New Green?

This week, Kelly Shue, Professor of Finance at Yale School of Management, joins the podcast. Earlier this year, Professor Shue and her co-author, Professor Samuel M. Hartzmark, published “Counterproductive Sustainable Investing: The Impact Elasticity of Brown and Green Firms.” Their research paper concludes that the sustainable investing practice of divesting high-emitting companies (referred to as “brown” firms) in favor of low-emitting companies (referred to as “green” firms) is...