This study investigates the relationship between bank boards' characteristics and their commitment to divest from fossil fuels. Using data on worldwide listed banks from 2016 to 2022, the results show a positive influence of board gender diversity on bank divestment from fossil fuel companies. We find that this result holds even following numerous robustness tests. A sub-sample analysis reveals that the effect of board gender diversity is significant for laggards' countries in environmental performance. These results highlight that greater gender diversity in board composition promotes sustainability, facilitating a shift towards business models prioritizing environmental goals. Evidence also offers valuable insights for policymakers in their efforts to align financial activities with sustainability goals. By embracing these implications, banks can contribute to the global transition towards a more environmentally sustainable and socially responsible future.

中文翻译：

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银行的化石燃料撤资和公司治理：董事会性别多元化的作用


本研究调查了银行董事会的特点与其从化石燃料中撤资的承诺之间的关系。使用 2016 年至 2022 年全球上市银行的数据，结果显示董事会性别多元化对银行从化石燃料公司撤资有积极影响。我们发现，即使在多次稳健性测试之后，这一结果仍然成立。子样本分析显示，董事会性别多元化对环境绩效落后国家的影响是显著的。这些结果显示，董事会组成中更大的性别多样性可以促进可持续发展，从而促进向优先考虑环境目标的商业模式转变。证据还为政策制定者努力使金融活动与可持续发展目标保持一致提供了宝贵的见解。通过接受这些影响，银行可以为全球转型做出贡献，迈向更加环境可持续和社会责任感十足的未来。