GRASFI Asia 2nd Conference

The 2nd GRASFI-Asia conference showcasing research from and about Asia will be held in January 2027 in partnership with Singapore Green Finance Centre (SGFC)

This year’s conference will be hosted at Singapore Management University (SMU) from 18th to 20th January 2027.

Call for papers will be distributed soon

18 - 20 January 2027: 2nd Annual GRASFI-Asia Conference

The second in our annual Global Research Alliance for Sustainable Finance and Investment in Asia (GRASFI Asia), hosted by Singapore Green Finance Centre (SGFC) at Singapore Management University (SMU) will bring world-class researchers, industry practitioners and policy makers together to share and grow knowledge in sustainable finance and investment.

This new annual conference series has a focus on sustainable finance and investment research relevant to Asia. The consistently above global average economic growth and leadership in sustainable finance and investment innovation in Asia is bringing capital providers to this region in larger numbers and with more long term commitment. As the capital looks for destinations here, the academic community must play a critical role in providing knowledge about the quality and impact of capital allocation choices.

GRASFI Asia seeks to bring academic insights and thought leadership on sustainable finance and investment, from Asia and about Asia.

Conference Schedule

08:00 – 08:45

Breakfast

Location: School of Management Student Commons

Papers Presented:

08:45 – 10:15

Plenary: Is the Anti-ESG Movement a Threat for Sustainable Investing and Businesses?

Location: School of Management Zhang Auditorium

Papers Presented:

10:45 – 12:15

Stream A: Impact Investment

Location: School of Management 2400

Moderator: Bruce Usher (Columbia University)

Papers Presented:

Exit vs Voice Vs Denial of (Re)Entry: Assessing investor impact mechanisms on corporate climate transition across asset classes

Long-run Returns to Impact Investing in Emerging Market and Developing Economies

Pricing Investor Impact

10:45 – 12:15

Stream B: SRI and Negative screening

Location: School of Management 4420

Moderator: Yumeng Gao (Yale University)

Papers Presented:

Measuring Business Social Irresponsibility: The Case of Sin Stocks

The Curse of Green Shareholder Oversight: Evidence from Emission Spillover of Divested Plants

The effect of Divestment from ESG Exchange Traded Funds

12:00 – 13:00

Lunch

Location: New Haven Lawn Club

Papers Presented:

14:00 – 15:30

Stream B: Noise and Investment Behaviours

Location: School of Management 2400

Moderator: Edward Watts (Yale University)

Papers Presented:

Altruists going on an ego trip: Beliefs and ambiguity attitudes in socially responsible investment

ESG Confusion and Stock Returns: Tackling the Problem of Noise

Sustainability, Prices and Emotions

14:00 – 15:30

Stream A: Central Banking

Location: School of Management 4420

Moderator: Ahyan Panjwani (Federal Reserve Board)

Papers Presented:

A Divine Coincidence? Do Renewables Shield Inflation from Fossil Fuel-price Fluctuations?

Don’t Lead Me This Way: Central Bank Guidance at the Age of Climate Change

Green Asset Pricing

16:00 – 17:30

Stream A: Biodiversity Finance

Location: School of Management 2410

Moderator: John Tobin de la Puente (Cornell University)

Papers Presented:

Biodiversity Management and Stock Price Crash Risk

Devising Nature-Aligned Finance

The Market Effect of Acute Biodiversity Risk: the Case of Corporate Bonds

16:00 – 17:30

Stream B: Technology and Data

Location: School of Management 4420

Moderator: Todd Cort (Yale University)

Papers Presented:

Managerial forward-looking and firm environmental risk: Evidence from a machine learning approach

The thematic content of ESG reports: A topic modeling approach

Using Graph Deep Learning to Trace Indirect Sourcing in Agricultural Supply Chains

18:30 – 21:00

Informal Dinner

Location: Bar New Haven

Papers Presented:

08:00-08:45

Morning Coffee and Refreshments

Location: Mochtar Riady Auditorium Foyer (Level 5)

Papers Presented:

8:45-10:15

Research Presentations: Investor Preferences I

Location: Mochtar Riady Auditorium (Level 5)

Moderator: Chris Durack, Head of Asia Pacific (Schroders)

Papers Presented:

Decoding Sustainable Investment Strategies: Bridging Intentions and Actions

Renaming with purpose: Investor response and fund manager behaviour after fund ESG-renaming

Rich and Responsible: Is ESG a Luxury Good?

8:45-10:15

Research Presentations: Debt pricing of Climate Transition

Location: Seminar Room 4-2 (Level 4)

Moderator: Luca Taschini (University of Edinburgh)

Papers Presented:

Do ESG investors care about carbon emissions? Evidence from securitized auto loans

Funding the Fittest? Pricing of Climate Transition Risk in the Corporate Bond Market

Pricing the Priceless: The Financial Cost of Biodiversity Conservation

8:45-10:15

Research Presentations: Governance and Activism

Location: Seminar Room 4-1 (Level 4)

Moderator: Weikai Li (Singapore Management University)

Papers Presented:

Corporate Social Responsibility Committee: International Evidence

Financial Market Structure for ESG Integration

Institutional investors’ behind-the-scene monitoring and ESG disclosure

10:15-10:45

Coffee Break

Papers Presented:

10:45 -12:15

Plenary Session – Nature and Biodiversity Finance

Location: Mochtar Riady Auditorium (Level 5)

Moderator: Nikki Kemp, Executive Director (Singapore Green Finance Center)

Papers Presented:

12:15 –13:45

Lunch

Location: Mochtar Riady Auditorium Foyer (Level 5)

Papers Presented:

14:00-15:30

Research Presentations: Investor Preferences II

Location: Mochtar Riady Auditorium (Level 5)

Moderator: Zhu Qifei (National University of Singapore)

Papers Presented:

A Breath of Change: Can Personal Exposures Drive Green Preferences?

Do advisors respond to investors’ preferences?

Do Financial Advisors Charge Sustainable Investors a Premium?

14:00-15:30

Research Presentations: Climate Beta

Location: Seminar Room 4-2 (Level 4)

Moderator: Raffaele Della Croce, Co-Director of Singapore Green Finance Centre and Advanced Research Fellow, Centre for Climate Finance & Investment (Imperial College Business School)

Papers Presented: