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Financial professionals and climate experts have diverging perspectives on climate action

Economics

Financial professionals and climate experts have diverging perspectives on climate action

E. Gsottbauer, M. Kirchler, et al.

This compelling study reveals a striking contrast in perspectives between financial professionals and climate experts regarding climate action. Conducted by Elisabeth Gsottbauer, Michael Kirchler, and Christian König-Kersting, the research uncovers lesser concern among financial professionals for climate change and highlights the urgent need for innovative strategies that engage them in the climate crisis through economic and reputational incentives.

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Playback language: English
Abstract
This study investigates the differing perspectives of financial professionals and climate experts on climate action. Using an incentivized experiment and a survey, the researchers find that financial professionals show less concern about climate change, lower willingness to curb carbon emissions, and less support for carbon taxes compared to climate experts. Motivations differ, with financial professionals prioritizing economic and reputational factors, while climate experts emphasize ecological and social consequences. The findings highlight the need for strategies that leverage financial incentives and reputational concerns to engage financial professionals in addressing the climate crisis.
Publisher
Communications Earth & Environment
Published On
May 01, 2024
Authors
Elisabeth Gsottbauer, Michael Kirchler, Christian König-Kersting
Tags
climate action
financial professionals
climate experts
carbon emissions
incentives
social consequences
economic factors

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