The PRI Academic Network Conference showcases the latest high-quality, independent evidence and insights in responsible investment practices. The event seeks to bridge the gap between investors and academics, and offers a unique opportunity to engage, learn, and network.

The conference represents an integral part of the PRI’s longstanding support for fostering new research and a community of practice in RI, from which the latest ESG research can inform the investment practices, behaviours and systems.

AGENDA
The 2023 Academic Network Conference, hosted as part of PRI in Person, consisted of 5 sessions as outlined below:

Wednesday, 4 October

11:15 – 12:15	Breakout 1C: Climate risks and investing Session Chair: Caroline Flammer (Columbia University, NBER, and ECGI) Paper 1: Counterproductive Sustainable Investing: The Impact Elasticity of Brown and Green Firms Authors: Samuel M. Hartzmark (Boston College and NBER) Kelly Shue (Yale University and NBER) Academic discussant: Hao Liang (Singapore Management University, and ECGI) Practitioner Discussant: Andy Howard (Global Head of Sustainable Investment at Schroders) Paper 2: What Drives Beliefs about Climate Risks? Evidence from Financial Analysts Author: Matilde Faralli (Imperial College London) Academic Discussant: Darwin Choi (The Chinese University of Hong Kong) Practitioner Discussant: Martin Skancke (Chair of the PRI Board)
13:45 – 14:45	Breakout 2C: Firms and Corporate Political Activities Session Chair: Pedro Matos (University of Virginia and ECGI) Paper 3: Investing in Influence: Investors, Portfolio Firms, and Political Giving Authors: Marianne Bertrand (University of Chicago, ECGI, NBER, and CEPR) Matilde Bombardini (UC Berkeley, NBER, and CEPR) Raymond Fisman (Boston University and NBER) Francesco Trebbi (UC Berkeley, NBER, and CEPR) Eyub Yegen (Hong Kong University of Science and Technology) Academic Discussant: Dylan Minor (UCLA) Practitioner Discussant: Lisa Hayles (Director, International Shareholder Advocacy at Trillium Asset Management) Paper 4: Do Socially Responsible Firms Pay Taxes? CSR and Effective Tax Rates Authors: Bruce G. Carruthers (Northwestern University) Brayden G. King (Northwestern University) Andrew Owen (Northwestern University) Academic Discussant: Xavier Giroud (Columbia University, NBER and CEPR) Practitioner Discussant: Emma Pullman (Head of Capital Stewardship at BC General Employees’ Union)
15:15 – 16:15	Breakout 3C: Diversity, equity, and inclusiveness Session Chair: Ayako Yasuda (UC Davis) Paper 5: Empowering Women by Index Membership: Evidence from a Unique Experiment from Japan Authors: Vikas Mehrotra (University of Alberta) Lukas Roth (University of Alberta and ECGI) Yusuke Tsujimoto (University of Alberta) Yupana Wiwattanakantang (National University of Singapore and ECGI) Academic Discussant: Shaun Davies (University of Colorado Boulder) Practitioner Discussant: Kaoru Kobu (Head of ESG at Invesco Asset Management Japan) Paper 6: Diversity, Equity, and Inclusion Authors: Alex Edmans (London Business School, CEPR, and ECGI) Caroline Flammer (Columbia University, NBER, and ECGI) Simon Glossner (Federal Reserve Board) Academic Discussant: Kai Li (University of British Columbia, and ECGI) Practitioner Discussant: Yumiko Murakami (General Partner at MPower Partners)

Thursday, 5 October

09:15 – 10:15

Breakout 4C: Governance and incentives Session Chair: Pedro Matos (University of Virginia and ECGI) Paper 7: Does Paying Passive Managers to Engage Improve ESG Performance? Authors: Marco Becht (Université libre de Bruxelles, CEPR, and ECGI) Julian Franks (London Business School, CEPR, and ECGI) Hideaki Miyajima (Waseda University and RIETI) Kazunori Suzuki (Waseda University and ECGI) Academic Discussant: Jun Yang (Indiana University, and ECGI) Practitioner Discussant: Marie Briere (Head of Investor Intelligence and Academic Partnerships at AMUNDI Institute) Paper 8: Foreign Institutional Ownership and Corporate Carbon Emissions Authors: Jie (Jay) Cao (The Hong Kong Polytechnic University) Xintong (Eunice) Zhan (Fudan University) Weiming (Elaine) Zhang (IE Business School) Yaojia (Zoe) Zhang (The Chinese University of Hong Kong) Academic Discussant: Miguel Ferreira (Nova School of Business and Economics, and ECGI) Practitioner Discussant: Lloyd Kurtz (Senior Portfolio Manager at Montecito Bank & Trust)

11:00 – 12:00

Breakout 5C: Towards system-level investing Session Chair: Caroline Flammer (Columbia University, NBER, and ECGI) Paper 9: Institutional Investor Industrial Policy Authors: Madison Condon (Boston University) Academic Discussant: Ben Caldecott (GRASFI, The Alan Turing Institute, University of Oxford) Practitioner Discussant: Linda-Eling Lee (Founding Director and Head, MSCI Sustainability Institute) Paper 10: Collaborative Investor Engagement with Policymakers: Changing the Rules of the Game? Authors: Camila Yamahaki (FGV EAESP) Catherine Marchewitz (DIW Berlin) Academic Discussant: Naoko Ishii (University of Tokyo) Practitioner Discussant: Jason Mitchell (Head of Responsible Investment Research at Man Group)

Application and Selection Process
The PRI Academic Network Conference programme was selected by the 2023 PRI Academic Network Conference Committee (Caroline Flammer, Pedro Matos, Laura Starks, and Ayako Yasuda).

Top rated papers were identified through a double-blind assessment with at least two Committee members. All submissions were reviewed by Committee Members without conflict of interest. Among the thirty shortlisted papers, ten papers were chosen for the programme.

To ensure the assembly of an inclusive and balanced programme, additional dimensions such as academic disciplines, geographic representation, gender, underrepresented minorities, seniority, topic, and others were also considered.