An academic paper that shows that environmental concerns such as litigation and regulation mean that exposed companies are paying up to 64 basis points (0.64%) more for their debt, has won the 2010 Moskowitz Prize, the only global award recognizing outstanding quantitative research in the field of socially responsible investing (SRI)...The research shows that companies that engage in environmental misconduct can incur costly penalties and evoke strong negative reactions from both financial and non-financial stakeholders...