Covid-19 and Optimal Portfolio Selection for Investment in Sustainable Development Goals

被引：149

作者：

Yoshino, Naoyuki ^{[1
,2
]}

Taghizadeh-Hesary, Farhad ^{[3
]}

Otsuka, Miyu ^{[4
]}

机构：

[1] Keio Univ, Tokyo, Japan

[2] Natl Grad Inst Policy Studies GRIPS, Tokyo, Japan

[3] Tokai Univ, Social Sci Res Inst, Hiratsuka, Kanagawa, Japan

[4] Keio Univ, Grad Sch Econ, Tokyo, Japan

来源：

FINANCE RESEARCH LETTERS | 2021年 / 38卷

关键词：

sustainable development goals; optimal portfolio selection; Covid-19; carbon tax; standard pollution tax;

D O I：

10.1016/j.frl.2020.101695

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

The Covid-19 pandemic and global economic recession has shrunk global energy demand and collapsed fossil fuel prices. Therefore, renewable energy projects are losing their competitiveness. This endangers the achievement of several Sustainable Development Goals (SDGs) and the Paris Agreement on Climate Change. Various consulting companies define the SDGs differently. Institutional investors hire consulting companies and allocate their investment based on the consultants' suggestions. This paper theoretically shows that the current allocation of investors by considering SDG based on various consulting companies will lead to distortion in the investment portfolio. The desired portfolio allocation can be achieved by taxing pollution and waste such as CO2, NOx, and plastics, globally with the same tax rate. Global taxation on pollution will lead to the desired portfolio allocation of assets.

引用

页数：6

共 50 条

[1] COVID-19 and sustainable development goals
Heggen, Kristin
Sandset, Tony J.
Engebretsen, Eivind
BULLETIN OF THE WORLD HEALTH ORGANIZATION, 2020, 98 (10) : 646 - 646
[2] Effects of COVID-19 on the Sustainable Development Goals (SDGs)
Shulla, Kalterina
Voigt, Bernd-Friedrich
Cibian, Stefan
Scandone, Giuseppe
Martinez, Edna
Nelkovski, Filip
Salehi, Pourya
DISCOVER SUSTAINABILITY, 2021, 2 (01):
[3] The Impact of COVID-19 Pandemic on Sustainable Development Goals
Gherghina, Stefan Cristian
Simionescu, Liliana Nicoleta
SUSTAINABILITY, 2024, 16 (13)
[4] Effects of COVID-19 on the Sustainable Development Goals (SDGs)
Kalterina Shulla
Bernd-Friedrich Voigt
Stefan Cibian
Giuseppe Scandone
Edna Martinez
Filip Nelkovski
Pourya Salehi
Discover Sustainability, 2 (1):
[5] Impact of COVID-19 on the UN Sustainable Development Goals (SDGs)
Mukarram, Md. Manuar
STRATEGIC ANALYSIS, 2020, 44 (03) : 253 - 258
[6] Vulnerabilities to COVID-19 in Bangladesh and a Reconsideration of Sustainable Development Goals
Sakamoto, Maiko
Begum, Salma
Ahmed, Tofayel
SUSTAINABILITY, 2020, 12 (13)
[7] The Impact of COVID-19 on the Sustainable Development Goals: Achievements and Expectations
Martin-Blanco, Cathaysa
Zamorano, Montserrat
Lizarraga, Carmen
Molina-Moreno, Valentin
INTERNATIONAL JOURNAL OF ENVIRONMENTAL RESEARCH AND PUBLIC HEALTH, 2022, 19 (23)
[8] COVID-19 puts the Sustainable Development Goals center stage
Ottersen, Ole Petter
Engebretsen, Eivind
NATURE MEDICINE, 2020, 26 (11) : 1672 - 1673
[9] Sustainable Development Goals in Early COVID-19 Prevention and Control
Kim, Taejong
Kim, Hyosun
SUSTAINABILITY, 2021, 13 (15)
[10] The implications of the Covid-19 pandemic for delivering the Sustainable Development Goals
Fenner, Richard
Cernev, Thomas
FUTURES, 2021, 128

← 1 2 3 4 5 →