Date of Submission
Spring 2021
Academic Program
Environmental and Urban Studies
Project Advisor 1
Robyn Smyth
Abstract/Artist's Statement
This exploratory study examines five U.S. electric utility firms that issue green bonds and observes what measures they take to signal their commitment to sustainability/ESG, using both internal (e.g. adhering to sustainability reporting frameworks and having a net-zero goal) and external signals (e.g. being a member of an environmental alliance or having a green certification). While observing signals, it also examines firms’ environmental performances in comparison to an identified peer non-green bond issuing U.S. electric utility firm. Using publicly available data, I found that the green bond issuing electric utility companies collectively signal slightly more than their non-issuing peers. Also, through information disclosed publicly, I determined with three environmental performance measures, carbon price intensity, carbon energy intensity and net energy generation sourcing, that sometimes more signaling leads to better environmental performance by firms.
Open Access Agreement
On-Campus only
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.
Recommended Citation
Esposito, Katherine R., "An Exploratory Analysis of Sustainability Signaling and the Environmental Performance of U.S. Green Bond Issuing Electric Utility Companies" (2021). Senior Projects Spring 2021. 44.
https://digitalcommons.bard.edu/senproj_s2021/44
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