News at Smith

Investors and ESG

Oct 05, 2020
World Class Faculty & Research


In ‘The Second Objective Function,’ CFP launches a free webinar series that explores the environmental, social and corporate governance questions that are most pressing for organizations and investors today.

Can a firm’s level of CO2 emissions predict the level of returns for its shareholders?

In a free upcoming webinar, the first in a series, UBS and the Center for Financial Policy at the University of Maryland’s Robert H. Smith School of Business invite Imperial College of London professors Marcin Kacperczyk and Patrick Bolton (also of Columbia University) to discuss findings in their National Bureau of Economic Research working paper, “Do Investors Care About Carbon Risk?

The discussion will be moderated by Russ Wermers, CFP director and the Bank of America Professor of Finance at Maryland Smith.

The webinar series, dubbed “The Second Objective Function,” is part of an ESG initiative that will explore the Environmental, Social and Corporate Governance questions that are so increasingly pressing for organizations and investors.

“The Center for Financial Policy is uniquely positioned to tackle these issues because of our longstanding relationships with the regulatory community and proximity to Washington, D.C.,” said Wermers.

The COVID-19 crisis has underscored the connections between environmental, social and corporate governance factors, and a general unpreparedness to handle major disruptions, such as the ones that are expected to result from climate change.

“The timing for this series and these discussions,” Wermers adds, “has never been more urgent.”

The Second Objective Function is one of several webinar series co-hosted by the center and UBS.

The Center for Financial Policy leverages Maryland Smith’s renowned faculty, leading research, and proximity to Washington, D.C., to promote a collaborative exchange of ideas on the key issues that affect financial markets.

To see the rest of the series, go to The Second Objective Function.

The webinar will take place at 9 a.m. ET Tuesday, Oct. 6, 2020. To register:


About the University of Maryland's Robert H. Smith School of Business

The Robert H. Smith School of Business is an internationally recognized leader in management education and research. One of 12 colleges and schools at the University of Maryland, College Park, the Smith School offers undergraduate, full-time and part-time MBA, executive MBA, online MBA, specialty master's, PhD and executive education programs, as well as outreach services to the corporate community. The school offers its degree, custom and certification programs in learning locations in North America and Asia.

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