Jeroen Derwall

Jeroen Derwall is an Associate Professor of Finance at Utrecht University School of Economics and holds a part-time position at Maastricht University. He is co-founder of the European Center for Sustainable Finance (ECCE) and has held previous faculty positions at Open University of The Netherlands, Tilburg University, and RSM Erasmus University. His academic journey includes a PhD in Financial Management from RSM Erasmus University.

Derwall's research expertise spans sustainable finance and investments, with particular focus on how sustainability (ESG) issues affect financial markets, investment portfolio management, active ownership, corporate behavior, and firm valuation. His work demonstrates significant evolution from early studies on eco-efficiency to contemporary research on biodiversity risk, climate change impacts, and regulatory effects of sustainable finance disclosure. He has established himself as a leading scholar in the field through consistent publication in top-tier journals including Management Science, Journal of Banking and Finance, and Financial Analysts Journal.

His recent publications reveal a strong trend toward examining the materiality of ESG factors, with increasing sophistication in measuring environmental risks and their financial implications. The research shows progression from broad ESG analysis to more granular examinations of specific environmental risks like biodiversity and climate change impacts on firm performance.

• Moskowitz Prize from the Center of Responsible Business at UC Berkeley (2005)
• Finance & Sustainability Research Award of the French Social Investment Forum (2005, 2007)
• PRI/Sustainalytics Best Paper Award (2012)
• Excellent Graduate Educator at Maastricht and Tilburg Universities (2015)
• Winner of the 2024 GRASFI Conference Best Paper award

Derwall actively supervises PhD candidates in sustainable finance and has co-developed Master's programs in Sustainable Finance at both Maastricht University (2014) and Utrecht University (2022). His research agenda has received external funding from MISTRA (2006-2011) and various institutional investors. He serves on the Academic Review Board of PGGM Systematic Equity Strategies (2022-2025) and the Netspar Program Research Council (2024-present), while also co-organizing major conferences including the inaugural Global Research Alliance for Sustainable Finance & Investments (GRASFI).