Green Investing and Political Behavior
Journal
The Review of Financial Studies
Type
journal article
Date Issued
2026-06-18
Author(s)
Abstract
A fundamental concern about green investing is that it may crowd out political support for public policies addressing negative externalities. We examine this concern in a preregistered experiment conducted shortly before a real referendum on a climate law in Switzerland. We find that offering an opportunity to invest in a climate-friendly fund does not reduce individual support for climate regulation, measured by political donations and voting intentions. A replication of the experiment in the United Kingdom yields similar results. Our estimates reject a crowding-out effect, suggesting instead a modest crowding-in effect of green investing on political support for green policies.
Language
English
HSG Classification
contribution to scientific community
Refereed
Yes
Publisher
Oxford University Press (OUP)
Volume
39
Number
9
Start page
2769
End page
2820
Subject(s)
Division(s)
File(s)![Thumbnail Image]()
open.access
Name
hhag055.pdf
Type
Main Article
Size
17.7 MB
Format
Adobe PDF
Checksum (MD5)
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