Analyser la durabilité
Covalence fournit aux universitaires des notations ESG et des données de type news pour l’étude des pratiques de RSE et de la pertinence économique du développement durable, l’exploration de la relation entre les facteurs financiers et non financiers, la comparaison des performances ESG entre les secteurs et les zones géographiques, l’évaluation de la crédibilité des plans de transition net-zéro, l’analyse des réactions des marchés boursiers aux nouvelles ESG, etc.
Les données disponibles ainsi qu’une sélection de publications universitaires s’appuyant sur les données de Covalence sont mentionnées ci-dessous.
ESG media signals and earnings risk: evidence from Vietnamese listed firms, Journal of Trade Science (2026) 14 (3): 279–296, 16.07.2026
Using the Covalence database, which aggregates global media, NGO publications and institutional communications into firm-level ESG reputation scores, the study constructs a panel of 62 Vietnamese listed firms over 2012–2023 (709 firm-year observations). Panel fixed-effects models are estimated across four earnings volatility specifications with ESG variables lagged one year. Robustness is assessed through winsorization, COVID exclusion, alternative lag structures, placebo tests and first-difference specifications.”
Can investors curb greenwashing?, CREST, ENSAE, Institut Polytechnique de Paris, 27.03.2024
In practice, we propose a two-step empirical method for analyzing companies’ environmental communication policies and testing their dynamics in cross-section. To do so, we use monthly data from the data provider Covalence, which constructs an environmental reputation score, an environmental controversy score, and an environmental performance score from published news.”
University of Westminster researchers find no causal relationship between corporate social responsibility and financial risk, University of Westminster, 10.05.2022
New research led by Dr Julie Ayton, Senior Lecturer in Finance, has rejected any causality between corporate social performance and financial risk, contrary to what previous evidence has found. Speaking about the significance of the research findings, Dr Ayton said: “Our paper’s main contribution and originality arises from both the methodology and the data. We were able to access monthly corporate social responsibility data from Covalence SA, showing that it is possible and necessary to use monthly data for more insightful analysis of corporate social responsibility.”
Responsabilité Environnementale & Sociale des Entreprises du Territoire néo-aquitain, Université de Pau et des Pays de l’Adour, 17.06.2020
Les laboratoires du CATT et du CRAJ ont obtenu conjointement un financement de la région Nouvelle Aquitaine pour mener à bien un projet d’études des pratiques de responsabilité sociale et environnementale des entreprises (RSE) installées en territoire néo-aquitain ainsi qu’un projet de construction d’un réseau de recherche pluridisciplinaire sur ce territoire. (…) Données ESG (Environnement, Social, Gouvernance) : Pour l’étude RESET, en complément de l’analyse de l’enquête menée auprès d’entreprises de plus de 9 salariés situées en Nouvelle-Aquitaine et en Aragon sur leurs pratiques de RSE, les chercheurs s’appuient sur les données COVALENCE.
Integrating corporate social responsibility and financial performance, Amelia Bilbao-Terol, Mar Arenas-Parra, Susana Alvarez-Otero, Verónica Cañal-Fernández, University of Oviedo, Management Decision, 12 July 2018
In this paper, data for firms’ CSR performance evaluation come from Vigeo and Covalence rating agencies. They gather different and complementary information about companies in terms of ESG criteria. (…) This could be due to the different sources of information and methodologies used by these two agencies. (…) Of course, both evaluations are valuable and, therefore, an aggregation process would appear useful. (…) The authors present a hybrid TOPSIS methodology on transformed scores of both the CSR valuations and the financial ratios.
Every Little Helps? ESG News and Stock Market Reaction, Gunther Capelle-Blancard, Aurélien Petit, Université Paris 1 Panthéon-Sorbonne, Journal of Business Ethics, 18 September 2017
Stories about corporate social responsibility have become very frequent over the past decade, and managers can no longer ignore their impact on firm value. In this paper, we investigate the extent and the determinants of the stock market’s reaction following ordinary news related to environmental, social and governance issues—the so-called ESG factors. To that purpose, we use an original database provided by Covalence EthicalQuote. Our empirical analysis is based on about 33,000 ESG news (positive or negative), targeting one hundred listed companies over the period 2002–2010.
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