This paper assesses to what extent markets with sophisticated investors and large firms price transition risks due to climate policies. The analysis exploits longitudinal data on firms’ economic and environmental performances - as measured by emission intensity, patenting activity in...

This study proposes a new indicator of Climate Policy Uncertainty based on newspaper coverage frequency. The indicator currently includes 12 OECD Member Countries and covers the period 1990-2018. The index spikes near major political events and during major discussions around potentially...