Database

CRSP

by

CRSP

Nithisha CHALLA

In this article, Nithisha CHALLA (ESSEC Business School, Grande Ecole Program – Master in Management (MiM), 2021-2024) examines the history, features, applications, and relevance of CRSP, with a special focus on why it matters to finance professionals and students.

Introduction

CRSP (Center for Research in Security Prices) is a leading financial database renowned for its comprehensive collection of security price data, returns, and market indexes. It is a trusted resource for academics, researchers, and professionals who rely on historical datasets for empirical research and strategic decision-making. With a focus on U.S. markets, CRSP has set the gold standard for securities data, supporting countless studies in finance and economics.

Mastering CRSP not only deepens a student’s understanding of financial markets but also signals to potential employers a commitment to analytical rigor and excellence in finance—a key advantage in a competitive job market.

The History of CRSP

Established in 1960 at the University of Chicago, CRSP was founded to provide accurate and comprehensive data on U.S. stock markets for academic research. Its first dataset covered securities listed on the New York Stock Exchange (NYSE), laying the foundation for rigorous empirical research in finance. Over time, CRSP expanded to include data from other exchanges, such as the American Stock Exchange (AMEX) and NASDAQ, creating an unparalleled repository of historical market information.

Logo of CRSP
Logo of CRSP
Source: the company.

CRSP’s pioneering methodologies in data collection and standardization have significantly contributed to advancements in financial theory and practice. Its datasets have been integral to groundbreaking studies, including those that led to Nobel Prizes in Economics like Eugene Fama.

Key Features

Certain key features of CRSP make it very useful as a database such as its Comprehensive Market Data, High-Quality Data, Unique Identifiers, Event Studies and Analytics, and Customizable Datasets.

As an example, the picture below presents the CRSP website Interface.

CRSP website Interface
CRSP Interface
Source: the company.

Comprehensive Market Data

In the domain of finance, where historical accuracy and data consistency are critical, the Center for Research in Security Prices (CRSP) database has established itself as an invaluable resource. Maintained by the University of Chicago Booth School of Business, CRSP provides high-quality financial and market data, widely recognized for its rigor and reliability.

CRSP provides historical data on stock prices, returns, and dividends dating back to 1926. It includes data on U.S. equity, fixed-income securities, mutual funds, and market indexes.

High-Quality Data

Known for its accuracy and reliability, CRSP meticulously cleans and standardizes data for research-grade quality.

Unique Identifiers

Employs permanent and unique identifiers for securities, ensuring seamless tracking across corporate events such as mergers or name changes.</p

Event Studies and Analytics

CRSP supports event-based analyses, including stock splits, delistings, and corporate actions. It enables users to study the impact of specific events on stock performance.

Customizable Datasets

CRSP allows users to tailor data queries based on timeframes, security types, or specific indices.

Applications in Finance and Business

There are several applications of CRSP in finance and business such as Market Benchmarks, Strategic Planning, academic research, and Corporate Finance.

  • Academic Research: CRSP is the backbone of empirical finance, aiding studies on asset pricing, portfolio theory, and market efficiency.
  • Investment Strategies: Asset managers and analysts use CRSP data to backtest trading strategies, analyze market trends, and optimize portfolios.
  • Market Benchmarks: CRSP provides widely used benchmarks like the CRSP Indexes, which are integral to understanding market dynamics.
  • Corporate Finance: Researchers and professionals leverage CRSP for analyses on mergers, acquisitions, and the impact of financial policies.

Advantages and Limitations of CRSP

Though there are multiple advantages of using this database there are also certain limitations that we have to consider:

Advantages of CRSP

  • Historical Depth: CRSP’s long-term datasets enable robust time-series analyses and longitudinal studies.
  • Reliability: Trusted by academics and practitioners for its meticulous approach to data accuracy.
  • Comprehensive Coverage: Includes data on a broad range of financial instruments and corporate actions.

Challenges and Limitations

  • Cost: Access to CRSP is subscription-based and can be expensive for individual users or smaller institutions.
  • U.S.-Centric Focus: While exhaustive for U.S. markets, it offers limited data on international securities.
  • Technical Complexity: Requires expertise to navigate and analyze its extensive datasets effectively.

Why CRSP Matters in 2024

In 2024, as financial markets grow increasingly complex, CRSP’s role as a reliable data source is more critical than ever. The database supports cutting-edge research on topics such as algorithmic trading, behavioral finance, and the impact of ESG factors on market performance. With its legacy of contributing to financial innovation, CRSP remains a vital resource for understanding and navigating modern markets.

Conclusion

CRSP stands as a testament to the power of high-quality data in shaping financial research and practice. Its depth, precision, and historical scope make it indispensable for academics, researchers, and industry professionals. As markets evolve, CRSP continues to provide the tools and insights needed to analyze trends, test hypotheses, and drive informed decisions.

Why should I be interested in this post?

For finance students, CRSP is more than a database—it’s an educational gateway to understanding market behavior, testing financial theories, and developing data-driven insights. Familiarity with CRSP equips students with the skills to conduct empirical research and enhances their readiness for roles in asset management, investment banking, and academia.

Related posts on the SimTrade blog

   ▶ Nithisha CHALLA Datastream

   ▶ Nithisha CHALLA Factiva

   ▶ Nithisha CHALLA Compustat

   ▶ Nithisha CHALLA Statista

Useful resources

CRSP CRSP research data products

CRSP CRSP US Stock Databases

Wikipedia Center for Research in Security Prices

About the author

The article was written in December 2024 by Nithisha CHALLA (ESSEC Business School, Grande Ecole Program – Master in Management (MiM), 2021-2024).

Compustat

by

Compustat

Nithisha CHALLA

In this article, Nithisha CHALLA (ESSEC Business School, Grande Ecole Program – Master in Management (MiM), 2021-2024) delves into Compustat, its origins and history, features, applications, and its critical role in shaping modern finance.

Introduction

In an era where data drives decision-making, having access to reliable and standardized financial information is essential for academics, analysts, and professionals in finance. Compustat is a comprehensive database that offers detailed financial and economic data on publicly traded companies across the globe. Renowned for its standardized and comparable datasets, it is extensively used for financial modeling, investment research, and academic studies. It is especially valued in environments where precision, consistency, and historical depth of data are paramount.

Investing time in learning how to navigate and apply insights from Compustat is not merely an academic exercise; it’s a practical step toward becoming a data-savvy finance professional ready to tackle real-world challenges.

The History of Compustat

Compustat traces its origins to the 1960s when Standard & Poor’s developed it as a digital repository for corporate financial data. Initially focused on U.S. companies, the database expanded its scope to include international firms, establishing itself as a global standard for financial information. Over decades, Compustat evolved with technological advancements, incorporating tools for analytics and data visualization, thus maintaining its relevance in an increasingly complex financial landscape.

The acquisition of Compustat by S&P Global(Standard and Poor) further solidified its position, ensuring integration with other S&P products like Capital IQ, enhancing both usability and depth.

Key Features of Compustat

Certain key features of Compustat make it very useful as a database such as its extensive financial data, global reach, standardized metrics, customizable data access, and integration capabilities

As an example, the picture below presents the screenshot of the Compustat website.

Compustat website Interface
Compustat website Interface
Source: the company.

Extensive Financial Data

Compustat, a product of S&P Global, is a robust database that provides financial, economic, and market data, making it a cornerstone for those engaged in quantitative research and corporate analysis. Compustat covers thousands of companies’ income, balance sheets, and cash flow statements. It includes detailed information on assets, liabilities, revenues, expenses, and equity.

Global Reach

Compustat provides data on companies from North America, Europe, Asia-Pacific, and emerging markets. It also features coverage of both active and inactive companies for historical analysis.

Standardized Metrics

Compustat ensures consistency and comparability across industries and geographies. It adheres to accounting standards, enabling uniform analysis.</p

Customizable Data Access

Allows users to tailor datasets according to specific time frames, industries, or financial metrics.

Integration Capabilities

Compustat is compatible with statistical software like R, Python, and MATLAB for advanced analytics. It can be integrated with S&P Global’s broader suite of tools, enhancing data utility.

Applications in Finance and Business with Compustat

There are several applications of Compustat in finance and business such as equity research and valuation, credit analysis, academic research, corporate strategy, and benchmarking

  • Equity Research and Valuation: Investment professionals use Compustat to build financial models, perform company valuations, and assess market performance.
  • Credit Analysis: Lenders and credit analysts utilize Compustat’s data to evaluate borrowers’ financial health and creditworthiness.
  • Academic Research: Scholars rely on Compustat for empirical studies on market behavior, corporate performance, and economic trends.
  • Corporate Strategy and Benchmarking: Businesses use the database for competitive analysis and to benchmark their performance against peers.

Advantages and Limitations of Compustat

Though there are multiple advantages of using this database there are also certain limitations that we have to consider:

Advantages of Compustat

  • Depth of Data: Historical records spanning decades provide valuable insights for longitudinal studies.
  • Reliability: Maintained by S&P Global, Compustat is a trusted source of financial information.
  • Customization: The ability to filter and extract tailored datasets enhances its utility across various applications.

Challenges and Limitations

  • Cost: The subscription fee is substantial, which may limit access for small organizations or individual users.
  • Complexity: Navigating the platform and interpreting data may require specialized training.
  • Limited Non-Financial Metrics: Focuses primarily on financial data, with less emphasis on qualitative aspects like ESG (Environmental, Social, Governance) metrics.

Why Compustat Matters in 2024

In the rapidly evolving financial landscape of 2024, Compustat remains a vital resource. With the growing complexity of global markets, the need for standardized and reliable data has never been greater. As businesses increasingly adopt AI-driven analytics, Compustat’s clean, structured datasets are a foundation for machine learning models and predictive analytics. Furthermore, its historical archives enable researchers to analyze economic trends and market cycles with unparalleled depth.

Conclusion

Compustat stands as a benchmark in financial databases. Its extensive features, historical depth, and global reach make it indispensable for professionals and academics. Compustat empowers users to make informed decisions in a data-driven economy by bridging the gap between raw data and actionable insights.

Why should I be interested in this post?

For finance students, understanding and utilizing Compustat can be a game-changer. Mastery of this database enhances research capabilities and provides a competitive edge in the job market. Familiarity with Compustat signals to employers a proficiency in handling large-scale financial data and performing advanced analytics skills highly sought after in finance, investment banking, and consulting.

Related posts on the SimTrade blog

   ▶ Nithisha CHALLA Datastream

   ▶ Nithisha CHALLA S&P Global Market Intelligence

   ▶ Nithisha CHALLA Factiva

   ▶ Nithisha CHALLA Statista

   ▶ Nithisha CHALLA CRSP

Useful resources

S&P Global Compustat Financials

Fidelity Investments Introduction to Standard & Poor’s Compustat

European University Institute (EUI) Compustat – Standard and Poor’s

Wikipedia Compustat

About the author

The article was written in December 2024 by Nithisha CHALLA (ESSEC Business School, Grande Ecole Program – Master in Management (MiM), 2021-2024).

Statista

by

Statista

Nithisha CHALLA

In this article, Nithisha CHALLA (ESSEC Business School, Grande Ecole Program – Master in Management (MiM), 2021-2024) explores Statista, its origin, features, applications, and its value as a go-to resource for data and insights.

Introduction

Statista is a leading provider of market and consumer data, presenting information in an intuitive, visually appealing format. Known for its user-friendly interface and comprehensive coverage, Statista aggregates data from over 22,500 trusted sources, making it a one-stop shop for global statistics, market trends, and industry reports.

Moreover, familiarity with Statista demonstrates to employers a capacity for leveraging data to inform decisions—a skill highly sought after in finance, consulting, and analytics roles. By mastering Statista, students not only enhance their academic experience but also gain a competitive edge in their professional journey.

The History of Statista

Founded in 2007 in Hamburg, Germany, Statista was created to simplify access to data and transform complex information into actionable insights. The platform initially focused on German-speaking markets but quickly expanded to serve a global audience. Over the years, Statista has grown into one of the largest statistics portals worldwide, providing data in fields ranging from technology and finance to healthcare and consumer behavior.

Logo of Statista
Logo of Statista
Source: the company.

Statista’s innovative approach to presenting data visually has set it apart. By combining academic rigor with business-friendly accessibility, the platform has become indispensable for decision-makers across industries.

Key Features of Statista

Certain key features of Statista make it very useful as a database such as its Extensive Data Coverage, Interactive Visualizations, Comprehensive Reports, Global Consumer Survey, and Ease of Access

As an example, the picture below presents the Statista website Interface.

Statista website interface
Statista website interface
Source: the company.

Extensive Financial Data

Statista, a renowned online statistics and market research platform offers a treasure trove of data for professionals, researchers, and students alike. Statista offers over 1.5 million statistics across 170 industries and 150+ countries. It includes data on demographics, consumer behavior, market trends, and economic indicators.

Interactive Visualizations

Statista provides charts, infographics, and dashboards to make data interpretation easier. Its users can customize visualizations to suit their needs.

Comprehensive Reports

In Statista, industry reports, market forecasts, and trend analyses are available. There are also special reports that focus on emerging topics like digitalization, sustainability, and AI.

Global Consumer Survey

Statista has a unique feature that offers insights into consumer attitudes and preferences across regions and industries.

Ease of Accessibility to data

Statista supports export in multiple formats, including PDF, Excel, and PowerPoint, for seamless integration into presentations and reports. And it features a powerful search engine and intuitive navigation tools.

Applications in Finance and Business with Statista

There are several applications of Statista in finance and business such as Market Research, Strategic Planning, academic research, and Public Policy, and Advocacy

As an example, the picture below presents the news about the monthly variation of the harmonized consumer price index (HICP) in France from January 2021 to April 2024.

Statista news on harmonized consumer price index(HICP)
Statista Interface
Source: the company.

  • Market Research: Businesses use Statista to understand market dynamics, consumer preferences, and industry trends.
  • Strategic Planning: Statista’s insights help organizations make informed decisions about investments, product launches, and expansions.
  • Academic Research: Students and researchers rely on Statista for data-driven studies in fields like economics, business, and social sciences.
  • Public Policy and Advocacy: Policymakers use Statista to analyze economic indicators and societal trends, aiding in policy formulation and advocacy efforts.

Advantages and Limitations of Statista

Though there are multiple advantages of using this database there are also certain limitations that we have to consider:

Advantages of Statista

  • Broad Scope: Covers a wide range of topics, industries, and geographies.
  • User-Friendly: Simplifies complex data with visual tools and intuitive navigation.
  • Trusted Sources: Aggregates data from reputable organizations, ensuring reliability.

Challenges and Limitations

  • Subscription Costs: Comprehensive access requires a paid subscription, which might be prohibitive for some users.
  • Limited Raw Data: Focuses more on aggregated and processed data rather than raw datasets.
  • Depth vs. Breadth: While broad, some topics may lack the depth found in specialized databases.

Why Statista Matters in 2024

In 2024, as data becomes the backbone of strategic decision-making, Statista’s role is more vital than ever. Its ability to present real-time insights and long-term trends in a visually engaging manner caters to the increasing demand for actionable intelligence. With industries navigating challenges like digital transformation and global economic shifts, Statista serves as a reliable ally in staying informed and competitive.

Conclusion

Statista has revolutionized how data is accessed and utilized. Its blend of breadth, reliability, and user-friendly design makes it a versatile tool for anyone needing data-driven insights. Whether you’re exploring new markets, conducting academic research, or shaping public policy, Statista equips you with the knowledge needed to succeed in a complex world.

Why should I be interested in this post?

For finance students, Statista offers a wealth of resources to support academic projects, case studies, and career preparation. The platform provides access to financial metrics, market trends, and consumer insights that are invaluable for coursework and internships.

Related posts on the SimTrade blog

   ▶ Nithisha CHALLA Datastream

   ▶ Nithisha CHALLA Factiva

   ▶ Nithisha CHALLA CRSP

   ▶ Nithisha CHALLA Compustat

Useful resources

Statista Empowering people with data

Statista Global stories vividly visualized

Wikipedia Statista

European University Institute (EUI) Statista

About the author

The article was written in December 2024 by Nithisha CHALLA (ESSEC Business School, Grande Ecole Program – Master in Management (MiM), 2021-2024).

Factiva

by

Factiva

Nithisha CHALLA

In this article, Nithisha CHALLA (ESSEC Business School, Grande Ecole Program – Master in Management (MiM), 2021-2024) delves into the essentials of Factiva, its features, and its applications, showcasing why it remains indispensable for professionals and academics alike working in business and finance.

Introduction

In the fast-paced world of business and finance, access to accurate, reliable, and up-to-date information is paramount. Factiva, a subscription-based database owned by Dow Jones & Company, is a cornerstone for researchers, financial analysts, and business professionals seeking high-quality data for decision-making.

The History of Factiva

Factiva was launched in 1999 as a joint venture between Dow Jones & Company and Reuters, two industry titans in financial news and information services. The aim was to create a unified platform catering to the growing need for consolidated global news and business data access. By integrating Dow Jones’s deep archives and Reuters’ real-time data capabilities, Factiva emerged as a pioneering solution for professionals in any sector, especially finance.

Logo of Factiva.
Logo of Factiva
Source: the company.

Factiva is a premier business intelligence platform offering access to a vast array of global content, including news, company information, market data, and industry insights. It integrates thousands of sources from over 200 countries in more than 30 languages. These sources include major newspapers, trade journals, industry publications, and multimedia content.

In 2006, Dow Jones acquired full ownership of Factiva, streamlining its integration with other Dow Jones products, including The Wall Street Journal. Over the years, Factiva has evolved into a sophisticated tool incorporating artificial intelligence (AI) and machine learning for advanced data analytics, thus staying ahead in a competitive information services market.

Key Features

Certain key features of Factiva make it very useful as a database such as its Extensive Content Coverage, Search and Filter Options, Data Analytics and Visualization, Company Profiles, and Industry Reports.

As an example, the picture below presents the news about Apple in the Factiva Interface.

Factiva Interface
Factiva Interface
Source: the company.

Extensive Content Coverage

Factiva includes over 33,000 sources, such as The Wall Street Journal, The Financial Times, The New York Times, and Reuters. It features specialized publications in sectors like energy, healthcare, and technology. Archival content dates back decades, enabling trend analysis and historical research.

Search and Filter Options

Advanced search tools allow users to refine searches using keywords, topics, dates, or specific publications. Filters can narrow results by geography, industry, or company size.

Real-Time News

Factiva provides real-time updates on financial markets, economic changes, and global events. Alerts and notifications keep users informed of developments affecting their areas of interest.

Data Analytics and Visualization

Users can extract, analyze, and visualize data to identify patterns and insights. Tools include charts, graphs, and export options for seamless integration with other software.

Company Profiles and Industry Reports

Comprehensive profiles offer financials, competitors, and SWOT (Strengths Weakness Opportunity and Threats) analyses for thousands of companies. Industry reports provide market trends, regulatory updates, and forecasts.

Applications in Finance and Business

There are several applications of Factiva in finance and business such as Investment Research, Risk Management, Academic Research, and Public Relations and Marketing.

  • Investment Research: Financial analysts rely on Factiva for market trends, earnings reports, and competitor analysis to guide investment decisions.
  • Risk Management: Businesses use Factiva to monitor geopolitical events, economic risks, and compliance-related developments.
  • Academic Research: Factiva’s extensive archives are invaluable for finance students and researchers studying historical market behavior or conducting case studies.
  • Public Relations and Marketing: PR professionals use Factiva to monitor media coverage, track competitors, and evaluate public sentiment.

Advantages and Limitations of Factiva

Though there are multiple advantages of using this database there are also certain limitations which we have to consider.

Advantages of Factiva

  • Global Reach: Access to international publications ensures a well-rounded perspective.
  • Customizable Dashboards: Users can tailor the interface to prioritize relevant content.
  • Reliable Sources: Factiva aggregates data from reputable and verified sources.
  • Ease of Integration: APIs (Application Programming Interface) allow integration with other platforms for streamlined workflows.

Challenges and Limitations

  • Cost: Factiva’s subscription model can be expensive for individuals or small businesses. The pricing is on the request basis of the data.
  • Complexity: The platform’s depth may require training for optimal use.
  • Access Restrictions: Some content may have geographical or licensing restrictions.

Why Factiva Matters in 2024

With the explosion of information and the increasing risk of misinformation, Factiva’s role as a curated, reliable database is more critical than ever. Its ability to distill vast quantities of data into actionable insights makes it a vital tool for navigating the complexities of modern business and finance. Moreover, the integration of advanced technologies such as AI in Factiva enhances predictive analytics, enabling users to anticipate market movements and mitigate risks proactively.

Conclusion

Factiva exemplifies the power of information in driving informed decision-making. Its rich history, innovative features, and significant economic implications underscore its enduring relevance in a data-driven economy. Whether you’re a student aiming to excel in finance or a professional seeking a competitive edge, Factiva equips you with the tools to succeed in a knowledge-driven world.

Why should I be interested in this post?

By embracing Factiva, users, and students mainly gain not just data but the clarity and confidence to act on it effectively, ensuring better outcomes for businesses, academia, and industries at large.

Related posts on the SimTrade blog

   ▶ Nithisha CHALLA Datastream

   ▶ Louis DETALLE The importance of data in finance

   ▶ Nithisha CHALLA CRSP

   ▶ Nithisha CHALLA Compustat

   ▶ Nithisha CHALLA Statista

Useful resources

Dow Jones Factiva – Global News Monitoring, Business Intelligence Platform

Dow Jones What is Factiva?

European University Institute (EUI) Factiva news and company database

Wikipedia Factiva

About the author

The article was written in December 2024 by Nithisha CHALLA (ESSEC Business School, Grande Ecole Program – Master in Management (MiM), 2021-2024).

My professional experience as financial research assistant in a green finance institute

by

My professional experience as financial research assistant in a green finance institute

Haiyuan_Xu

In this article, Haiyuan Xu (ESSEC Business School, Master in Strategy & Management of International Business (SMIB), 2021-2022) presents her personal internship experience as assistant financial research analyst in the sector of green finance.

About the company

The International Institute of Green Finance (IIGF) is the first international research institute in China with the goal of promoting the development of green finance. It was established in September 2016 by a donation from Tianfeng Securities Company (Tianfeng Securities issued the first green corporate bond of a private listed company in the market). Its research topics include green finance, climate finance, energy finance and health finance. The IIGF is committed to building a domestic first-class and world-leading green finance think-tank with Chinese characteristics.

Logo of the International Institute of Green Finance (IIGF).
Logo of IIGF
Source: IIGF.

What about my internship？

Job missions

My position was financial research assistant in the green bonds sector.

My work can be summarized as the construction of a financial database about green bonds, and the writing of financial research reports.

Regarding the database construction, the relevant data of green bonds were mainly collected from public channels such as the WIND database (WIND is a financial data and analysis tool service company providing financial data, information, and software service in mainland China). For the database of the institute, I collected information such as the type of green bonds (most of the green bonds were convertible bonds), green bond issuers, use of raised funds, certification and underwriting to update and maintain the existing green bond database. In addition, I participated in the establishment of the standard for the definition of non-labeled green bonds, so that the green investment of general bonds is also included in the database, which makes the database more convincing.

In terms of financial report writing, I participated in on-site research, collected data, and wrote the first draft of the green bond report. Finally, the institute issues the annual green bond market development report, which is of great help to the development of green finance in China.

Requirements for this internship

The job was a team job and required cooperation and communication skills (soft skills). Of course, this job also required me to be financially literate. In addition, I needed to have the ability to collect data, process data and analyze financial markets (hard skills).

What I have learnt from the internship

What impresses me most is the knowledge I have learnt from the business of green finance. I think the development of China’s green finance market is relatively imperfect, and many products can be innovated. According to recent data released by the People’s Bank of China, as of the end of 2021, China’s green loan balance in local and foreign currencies was 15.9 trillion yuan, a year-on-year increase of 33%. But at the same time, driven by the “dual carbon” goal, the scale of China’s green credit products is far from meeting the relevant investment and financing needs, and there is still huge room for growth. At present, the Chinese government is strongly supporting the development of green finance. China is rich in green energy such as wind energy and hydropower. Therefore, based on the above conditions, I believe that China’s green financial market has great potential for development. I look forward to setting up a green public fund company to raise funds for the development of green finance in China.

Earn money in a green way.
Earn money in a green way
Source: IIGF.

Financial Concepts

I explain below some financial concepts that I found useful during my internship at IIGF.

Convertible bonds

A convertible bond is a fixed-income corporate debt security that yields interest payments, but can be converted into a predetermined number of common stock or equity shares. The conversion from the bond to stock can be done at certain times during the bond’s life and is usually at the discretion of the bondholder.

Green bonds

Green bonds are fixed-income financial instruments which are used to fund projects that have positive environmental and/or climate benefits. They follow the Green Bond Principles stated by the International Capital Market Association, and the proceeds from the issuance of which are to be used for the pre-specified types of projects.

Underwriting

Underwriting (UW) services are provided by some large financial institutions, such as banks, insurance companies and investment houses, whereby they guarantee payment in case of damage or financial loss and accept the financial risk for liability arising from such guarantee.

Related posts on the SimTrade blog

   ▶ All posts about Professional experiences

   ▶ Anna BARBERO Career in finance

   ▶ Akshit GUPTA Green bonds

   ▶ Anant JAIN Green investments

Useful resources

International Institute of Green Finance (IIGF)

The report published by the IIGF

Green finance for developing countries

About the author

The article was written in March 2022 by Haiyuan_Xu (ESSEC Business School, Master in Strategy & Management of International Business (SMIB), 2021-2022).