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Sustainable Finance, Corporate Governance & Greenwashing (EFICO)

EFICO is a research group dedicated to the study of sustainable finance, ESG (Environmental, Social and Governance) criteria, sound corporate governance, gender diversity on boards of directors, and the mitigation of greenwashing. Its mission is to analyze, research, train, and transfer knowledge in the field of ESG principles, in line with the United Nations’ Sustainable Development Goals (SDGs) promoted under the 2030 Agenda. The research team that forms part of this group specializes in the study of corporate governance and decision-making processes in financial, economic, and control contexts. Its research lines focus particularly on the sustainability and transparency of socially responsible companies, as well as on the design of sustainable corporate strategies. Furthermore, the group examines the impact of gender diversity on the decision-making and supervisory bodies of listed companies—mainly within the European context—and its influence on corporate financial and economic decisions. Likewise, the group addresses the creation of sustainable long-term value and wealth, promoting the responsible use of resources and environmental protection, while also analyzing the risks and practices associated with greenwashing and the mechanisms to mitigate it. In this context, an increasing number of companies have incorporated sustainability as a central axis of their corporate strategy, establishing it as an essential element in long-term value creation. In the financial sphere, this integration has resulted in a growing prominence of sustainable finance, which provides investors with non-financial information through sustainability and integrated reports. These reports enable the assessment not only of economic performance but also of the organization’s commitment to ESG principles. Moreover, responsible and sustainable investment is guided not only by traditional criteria such as risk, liquidity, and profitability, but also by the rising importance of ethics, transparency, and prosocial orientation among investors, who increasingly value the societal and environmental impact of their decisions. This research group has developed a consolidated scientific activity over the years, as evidenced by its publications in high-impact journals and its participation in competitive projects funded through public calls. The outcomes of these research efforts have materialized not only in high-level academic contributions but also in knowledge transfer initiatives directed toward the business sector. In this regard, the group has participated in various projects aimed at promoting corporate innovation and sustainability, several of which have been funded by the Valencian Institute for Competitiveness and Innovation (Ivace+i Innovación), formerly the Valencian Innovation Agency (AVI).