Firm Commitments

The authors thank Caroline Flammer, two anonymous referees, Rui Albuquerque, Asaf Bernstein, Ioannis Branikas, Stefano Giglio, Alberta Di Giuli, Rudi Fahlenbrach, Gerald Garvey, Katarzyna Kacperczyk, Pedro Matos, Lukasz Pomorski, Ailsa Roell, Aleksandra Rzeznik, Zach Sautner, Michael Toffel, and Moqi Xu as well as seminar participants at the American Economic Association Meetings, Cal Tech, Lehigh University, Peking University, University of Luxembourg, University of Mannheim, University of Oregon, The Central Bank Research Association, Corporate Finance Webinar, Review of Financial Studies-Energy and Climate Finance Conference, and United Nations Principles for Responsible Investment conference for several useful comments. They are grateful to Trucost for giving them access to their corporate carbon emissions data and to Moritz Wiedemann for helpful research assistance.