Ploeg, Frederick van der; Rezai, Armon - 2019 - Revised July 2019
If global warming is to stay below 2°C, there are four risks of assets stranding. First, substantial fossil fuel …, unanticipated changes in present or expected future climate policy cause instantaneous discrete jumps in today's valuation of … physical and natural capital. Fourth, if timing and intensity of climate policy are uncertain, revaluation of assets occurs as …