Library | ESG issues

Governance

The governance pillar in ESG (environmental, social, and governance) refers to the systems, policies, and practices that ensure an organisation is managed responsibly and ethically. It includes issues such as board structure, reporting & disclosures, shareholders & voting, and risk management. Strong governance reduces risks, enhances trust, and supports long-term business sustainability.

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Equity in principle, misalignment in practice: Adaptation finance governance in the adaptation fund and green climate fund

Smith School of Enterprise and the Environment (University of Oxford)
The report argues that adaptation finance through the Adaptation Fund and Green Climate Fund formally prioritises equity, vulnerability and country ownership, but remains constrained by voluntary funding, access barriers and project-based delivery, limiting alignment with Global South priorities.
Research
22 April 2026

Transforming the urban climate project preparation ecosystem: Emerging findings on how enhanced collaboration can deliver greater coherence, efficiency and impact

The Partnering Initiative (TPI)
The report examines weaknesses in urban climate project preparation and argues that stronger coordination between cities, financiers and support organisations could improve coherence, efficiency and project impact. It identifies structural and operational barriers and proposes collaborative reforms to strengthen climate finance delivery.
Research
5 March 2026

Physical climate risk in the United States equity market: Quantifying state–sector heterogeneity

EDHEC Climate Institute
The report presents an NGFS-aligned framework for assessing physical climate risk in U.S. equities. Using state-level GDP damage projections and sector-specific adjustments, it estimates a roughly 4.0% valuation loss for a U.S. equity benchmark under current policies, highlighting substantial variation across states and sectors.
Research
30 March 2026

Exposing tobacco companies’ retail presence and highlighting regulatory options

The report outlines how tobacco companies use retailer incentives, targeted in-store marketing, and retailer lobbying to sustain product visibility and influence regulation. It reviews policy options, including retail licensing, outlet restrictions, and sales limitations, aimed at reducing tobacco availability and countering industry presence in retail settings.
Research
11 April 2026

Applying TNFD nature-related metrics in the fishing sector: Insights from investors and industry

Taskforce on Nature-related Financial Disclosures (TNFD)
TNFD guidance for the fishing sector outlines how investors and seafood companies use nature-related metrics to assess risks, disclosure and stewardship. Findings highlight growing demand for traceability, stock health and bycatch data, while noting certification interoperability, persistent data gaps and emerging access to blue finance instruments.
Research
21 April 2026

The EU Inc.: Half European, fully digital, and genuinely innovative

European Corporate Governance Institute (ECGI)
The paper analyses the European Commission’s proposed “EU Inc.” framework, a harmonised digital-first company structure for EU start-ups and scale-ups. It assesses governance, financing, codetermination, digital registration and cross-border legal integration within existing EU and national company law frameworks.
Research
5 May 2026

Blocking a better world altogether: Rabobank’s bogus policy about animal welfare and sustainable agriculture

World Animal Protection
World Animal Protection argues Rabobank’s sustainability policies fail to match its financing practices, alleging continued support for companies linked to animal cruelty, deforestation and high emissions. The report urges stricter lending conditions, stronger monitoring and reduced investment in industrial livestock expansion to align with climate and animal welfare goals.
Research
16 May 2024

Building the financial case for urban adaptation: Guidance and case studies

C40 Cities
C40 and Rebel outline how cities can structure urban adaptation projects to attract private finance, using ten case studies. Bankability depends on revenue logic, risk allocation, public de-risking, early financier engagement and credible monitoring.
Research
16 April 2026

The thematic assessment report on the interlinkages among biodiversity, water, food and health

Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES)
IPBES assesses links between biodiversity, water, food, health and climate, finding siloed decisions worsen trade-offs. It identifies integrated governance, sustainable consumption, ecosystem restoration and finance reform as response options to support more just and sustainable outcomes.
Research
13 January 2026

Legal opinion: Director’s duties and nature-related risks in the Philippines

Commonwealth Climate and Law Initiative
CCLI’s legal opinion finds Philippine company directors must consider nature-related and biodiversity risks within their fiduciary duties. The report outlines potential legal, disclosure and governance consequences for failing to manage these risks, while also highlighting directors’ obligations to assess nature-related opportunities supporting long-term corporate resilience.
Research
9 April 2026

Legal form and corporate outcomes: Evidence from the societas europaea

European Corporate Governance Institute (ECGI)
Study finds Societas Europaea adoption improves firms’ international positioning, increasing foreign investor ownership and cross-border acquisitions. However, markets generally react negatively, information asymmetry rises, and shareholder returns weaken post-adoption, suggesting governance flexibility and supranational identity benefits may be offset by uncertainty and potential minority shareholder concerns.
Research
3 May 2026

Climate finance as a catalyst for peace

Research across 85 developing countries found climate finance was associated with lower resource-related conflict risk, particularly through reduced water scarcity and greater renewable energy access. The study suggests climate finance may support stability in fragile regions, with stronger effects observed where higher funding levels were directed towards adaptation and social infrastructure.
Research
10 March 2026

AI in your portfolio: Risks & opportunities

Intentional Endowments Network
Briefing paper outlining AI investment opportunities alongside systemic risks including bias, privacy, workforce disruption and environmental impacts. It highlights governance frameworks, due diligence tools and investor engagement strategies to support responsible AI investment practices and long-term portfolio resilience.
Research
21 April 2026

Hedging ambiguity with pro-social preferences: An illustration from green finance

National Bureau of Economic Research (NBER)
The paper argues that pro-social preferences can offset ambiguity aversion in green finance by acting as a behavioural hedge. Using ambiguity-based investment models, the authors show socially motivated investors may accept uncertain green assets, lowering effective hurdle rates and supporting private capital flows into sustainable projects.
Research
22 April 2026

TNFD Learning Lab

Taskforce on Nature-related Financial Disclosures (TNFD)
TNFD’s Learning Lab is a free, open-access platform offering self-paced modules on nature-related issues and the TNFD framework. It provides videos, webinars, case studies and practical guidance to help finance and business professionals build capability in nature-related assessment, reporting and decision-making.
Research

Systematic stewardship on the waterbed

European Corporate Governance Institute (ECGI)
Tröger argues corporate governance tools, including stewardship, say-on-climate votes and ESG-linked pay, cannot replace broad climate regulation. Firm-level interventions may trigger “waterbed effects”, shifting emissions rather than reducing them. Carbon pricing or comprehensive emissions caps are presented as more effective.
Research
30 March 2026
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