-implied credit risk across various time horizons. Findings show that firms with higher GHG emissions have higher CDS spreads at all … exposure to transition risk for a firm across different time horizons. However, it fails to account for a company's efforts to … to risk-differentiate ETS-participating firms from other firms. …

now than ever, only a financial mechanism can scale up capital to such an extent. However, climate risk represents the …-term investors by directly modelling the dynamics of the GMST. The evaluation of climate risk requires a model incorporating the … function, and include stochastic processes representing additional risk. We obtain a bivariate Ornstein-Uhlenbeck process and …