Dear Colleagues,

Recently, divestment has been increasingly discussed. What started as an activity by engaged environmentalists has been taken up by the financial community and by academic research on finance and sustainability. The financial and environmental, and social consequences of divestment, however, are discussed controversially. Furthermore, divestment is perceived as an exclusive strategy by some and as s strategy that should be used in combination with other methods of socially responsible investment, such as engagement.

To close the gap in the knowledge about divestment and its intended and unintended effects, the studies of this Special Issue are expected to address:

• The identification of areas of conflict including case analysis. Compatibilities and incompatibilities with other activities undertaken in finance and banking that addresses sustainable development.
• Analysis, measurement and management of both, risks and impacts of divestment with regard to financial returns and sustainability.
• Analysis and discussion of the effect of divestment on divested firms, such as representatives from the fossil fuel industry.
• Analysis of legal issues of divestment, such as fiduciary duty.
• Analysis and understanding carbon footprints of fossil fuel divestment scenarios.
• Analysis of regional differences of the financial, environment, and social effects of divestment.
• Understanding the impact of divestment events, such as announcement and pledges.
• Analysis of divestment as a subgroup of socially responsible investment.
• Analyses of the political frameworks that support or are a barrier for divestment.
• Analysis of activities to prevent divestment.

Prof. Olaf Weber
Guest Editor

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• Divestment
• sustainability
• finance
• socially responsible investment
• impact
• banking
• fossil fuel