Green Versus Sustainable Loans: The Impact on Firms' ESG Performance
H Neef; Steven R. G. Ongena; Gergana Tsonkova · 2026 · European Financial Management
WASTE classifies this as Negative / Null Result Report · AI classification, approximate
The study found no significant effect — useful as a negative control or null benchmark for your own design.
Abstract
ABSTRACT This paper studies the development of a firm's Environmental, Social, and Governance (ESG) performance following the issuance of “green loans” earmarked for green projects versus “sustainable loans” benchmarked by ESG criteria. Firms issuing green loans improve environmental performance, particularly by reducing emissions, but experience declines in social performance, suggesting a trade‐off between environmental and social objectives. In contrast, sustainable loans are associated with broader ESG improvements, enhancing environmental and governance outcomes without a comparable socia
Abstract by H Neef; Steven R. G. Ongena; Gergana Tsonkova, European Financial Management (2026) — licensed CC BY 4.0.
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Metadata source: OpenAlex · DOI 10.1111/eufm.70101