17.01.2023
Working Paper

Mirror, mirror on the wall, who is transitioning among them all?

Abstract

In order to reach climate neutrality by 2050, the European Union is taking action in the form of extensive sustainability regulations with the aim to push the private sector towards sustainable economic activities. In this context, a new instrument to finance a company’s sustainability transition has been developed: the sustainability-linked bond (SLB). This paper analyzes the SLB market’s efficiency in attracting those companies that are most crucial for a successful sustainability transition, namely carbon-intensive companies and companies that are lagging behind in their sustainability transition, defined as ESG laggards. By developing a conceptual framework for the SLB market and running a probit and logit regression estimation, this paper shows that the SLB market efficiently attracts carbon-intensive companies, but fails to attract ESG laggards. Furthermore, the paper identifies four success factors for the SLB market to improve its future accessibility and credibility.

News from the research center

News
30.06.2025

Article "Ideology and Suffering: What Is Realistic about Critical Theory?" by Amadeus Ulrich published in EJPT

The article "Ideology and Suffering: What Is Realistic about Critical Theory?" by Amadeus Ulrich has just been published open access in the European Journal of Political Theory (EJPT). Ulrich brings the perspective of radical realism into a productive dialog with Adorno's critical theory.

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News
30.06.2025

Prof. Dr. Franziska Fay awarded the Sibylle Kalkhof-Rose University Prize 2025

Prof. Dr. Franziska Fay (Junior Professor of Ethnology with a focus on Political Anthropology at Johannes Gutenberg University Mainz (JGU) and former postdoctoral researcher at the Research Center Normative Orders at Goethe University) receives the Sibylle Kalkhof-Rose University Award 2025 in the category Humanities and Social Sciences.

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Publication
25.06.2025 | Online article

Ideology and Suffering: What Is Realistic about Critical Theory?

Ulrich, Amadeus (2025): Ideology and suffering: What is realistic about critical theory? European Journal of Political Theory, 0(0).  https://doi.org/10.1177/14748851251351782

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News
24.06.2025

New series “Vertrauensfragen” in the Frankfurter Rundschau initiated by Hendrik Simon

Democracy thrives on debate - if it serves the joint search for solutions. There is often a problem with this cooperation. The new FR series “Vertrauensfragen”, initiated by Hendrik Simon (Research Institute Social Cohesion (RISC) Frankfurt location at Goethe University's Research Centre Normative Orders ), examines why this is the case and how we can do better.

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Publication
23.06.2025 | Working Paper

Untrustworthy Authorities and Complicit Bankers: Unraveling Monetary Distrust in Argentina

Moreno, Guadalupe (2025): “Untrustworthy Authorities and Complicit Bankers: Unraveling Monetary Distrust in Argentina”. Max Planck Institute for the Study of Societies Discussion Paper 25/3.

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News
22.05.2025

Does deliberative democracy have a future in the age of oligarchs, autocrats and patriarchs?

On June 3, Prof. Simone Chambers will give a lecture on the value of democracies and the future of the form of government.

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Publication
19.05.2025 | Anthology

Klimaethik. Ein Reader

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News
19.05.2025

What can a baroque tapestry tell us about colonial iconography?

Lecture by Cécile Fromone on May 21. The professor at the Department of the History of Art and Architecture at Harvard University, director of the Cooper Gallery at the Hutchins Center and author will talk about the long-forgotten African origins of iconography and its colonial dimension.

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News
05.05.2025

Normative Orders Newsletter 01/25 published

The newsletter from Research Centre Normative Orders collects information on current events, reports, news and publications several times a year. Read the first issue 2025 here.

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