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Companies are exposed to carbon-transition risk as the global economy transitions away from fossil fuels to renewable … energy. We estimate the market-based premium associated with this transition risk at the firm level in a cross-section of …. Short-term transition risk is greater for firms located in countries with lower economic development, greater reliance on …
Persistent link: https://www.econbiz.de/10012482725
The UNFCCC process of negotiating multilateral carbon emissions reductions thus far has focused on approximately equiproportional cuts in annual carbon emissions by country along the lines of the Kyoto Protocol agreement. But now, with the objective of involving large developing countries such...
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We study the effects of carbon price uncertainty on firms' decisions to decarbonize their operations. We first use information on the pricing of options on emission allowances in the European Emissions Trading System to create the Carbon VIX, a market-based high-frequency measure of carbon price...
Persistent link: https://www.econbiz.de/10015072879
In an impure public good model we analyze the effects of CDM transfers on poverty as well as on the global climate protection level. We construct an analytical model of a developing and an industrialized region, both of which independently seek to maximize their utility - a function of private...
Persistent link: https://www.econbiz.de/10008799170
The EU has a consolidated climate and energy regulation: it played a pioneering role by adopting a wide range of climate change policies and establishing the first regional Emission Trading Scheme (EU ETS). These policies, however, raise several concerns regarding both their environmental...
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This paper presents both analytics and numerical simulation results relevant to proposals for carbon motivated regional trade agreements summarized in Dong & Whalley(2008). Unlike traditional regional trade agreements, by lowing tariffs on participant's low carbon emission goods and setting...
Persistent link: https://www.econbiz.de/10012463767