WORKSHOP ON: CAPITAL MARKETS AND ENVIRONMENTAL PERFORMANCE

Sponsored by:  U.S. Environmental Protection Agency

Hotel Laguna, Laguna Beach, CA

Agenda in word

October 25-27, 2002

Friday

8:00- 8:45 p.m.             John Ganzi, Environment & Finance Enterprise

“Current Practices in the World of International Finance:  Sustainable Finance Related Programs and Practices within the Banking, Investment, and Insurance Sectors.”

Saturday

Session # 1:  The Link Between Environmental and Financial Performance:  New Firm and Strategy Level Analysis.

Madhu Khanna, U. of Illinois, Surender Kumar, U. of Illinois and Wilma Rose Q. Anton, U. of Central Florida

"Environmental Self-Regulation: Implications for Environmental Efficiency and Profitability."

Discussant:  Abagail McWilliams, U. of Illinois

Michael V. Russo, and Niran S. Harrison, U. of Oregon

"Internal Organization and Environmental Performance:  Clues from the Electronics Industry."

Discussant:  Andy King, Dartmouth College. Presentation

Robert Repetto, Yale U. and James Henderson, Stratus Environmental Consulting, Inc.

“Environmental Exposures in the U.S. Electric Utility Industry.”

Discussant: Magali Delmas, UCSB

Session # 2: Green Investing: Theory and Practice.

Robert Heinkel, U. of British Columbia, Alan Kraus, U. of British Columbia and Josef Zechner, U. of Vienna

"The Effect of Green Investment on Corporate Behavior." Figures

Discussant:  Paul Portney, Resources for the Future

Bernell K. Stone, John B. Guerard, Jr., Mustafa N. Gultekin and Greg Adams all from Brigham Young U.

"Socially Responsible Investment Screening: Strong Empirical Evidence of No Significant Cost for Actively Managed Value-Focused Portfolios.”

Discussant: Mark Cohen, Vanderbilt University Presentation

Linsey Malloy, Miami U., Homer Erekson, U. of Missouri at Kansas City and Raymond F. Gorman, Miami University

"Exploring the Relationship Between Environmental and Financial Performance."

Discussant:  Don Siegel, Rensselaer Polytechnic Institute

Session #3:  Risk Management and Scenario Analysis

Doug Holmes, Monash U.

"Investment Risk and Greenhouse Exposure: Application of a Risk-Based Overlay Approach for an Australian Institutional Investor." & Presentation in Power Point.

Discussant: Robert Repetto, Yale U.

Donald J. Reed, Ecos Corporation

"Stalking the Elusive Business Case for Corporate Sustainability."

Discussant: Eduardo Schwartz, UCLA Presentation

Jonathan M. Karpoff, U. of Washington, John R. Lott, Jr., American Enterprise Institute, Eric W. Wehrly, U. of Washington

"Environmental Violations, Legal Penalties, and Reputation Costs."

Discussant: Mike Barnett, New York University. Presentation

Sunday

The Agenda for Future Research

Kai Hockerts, INSEAD. Presentation

Dinah Koehler, Harvard School of Public Health. Presentation

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