This research provides new perspectives on carbon risk factor by using raw carbon data; cleaning carbon data; analyzing … global stock universe; utilizing a long data timeframe; and constructing three unique carbon factors. All three carbon … factors (carbon volume, carbon financial efficiency, and carbon operational efficiency) exhibit strong performance and high …

Companies face significant carbon-transition risk as the global economy works to combat climate change. This paper … studies the market-based premium associated with the carbon-transition risk globally and finds that firms with more carbon …-intense business models earn higher returns in recent years. The carbon return is impacted by climate-aware institutional flows, is …

Carbon-intensive firms have been underperforming in the U.S. despite their higher carbon transition risk. The brown …-minus-green return spread, or carbon return, is zero on average globally but varies significantly across countries with unexpected cash … flow shocks and climate taste shifts. The lower carbon return in developed markets reflects stronger growth in climate …

Companies face significant carbon-transition risk as the global economy works to combat climate change. This paper … studies the market-based premium associated with the carbon-transition risk globally and finds that firms with more carbon …-intense business models earn higher returns in recent years. The carbon return is impacted by climate-aware institutional flows, is …

carbon costs at the firm level. To this end, we use a consistent dividend discount framework augmented with emission costs of …

Several recent articles have analyzed climate policy giving explicit attention to the non-renewable character of carbon … reasonable to interpret as the whole world. However, carbon taxes and other climate policies differ substantially across …

green paradox: when policy makers stimulate the development of non-carbon energy sources to (partly)replace fossil fuels in …

; Carbon Taxes …

impact on carbon dioxide emissions until 2030 under different policy scenarios using a Computable General Equilibrium (CGE …