Der globale Klimawandel ist eine der bedeutendsten Herausforderungen unserer Zeit. In diesem Zusammenhang wird auch die Rolle der Automobilindustrie kritisch hinterfragt. Dabei erheben insbesondere relevante Interessensvertreter wie Investoren oder Kunden Ansprüche an die Automobilindustrie....

We investigate whether credit rating agencies incorporate climate risk in their rating models. As climate risk is not well defined, we implement several identification strategies using a sample of U.S. cities whose creditworthiness should vary with climate risk–related disruptions to their...

Climate change can be a source of financial risk. This paper examines how credit rating agencies accepted by the Eurosystem incorporate climate change risk in their credit ratings. It also analyses how rating agencies disclose their assessments of climate change risks to rating users. The paper...

Climate change can be a source of financial risk. This paper examines how credit rating agencies accepted by the Eurosystem incorporate climate change risk in their credit ratings. It also analyses how rating agencies disclose their assessments of climate change risks to rating users. The paper...

We review the sovereign credit rating methodologies of three credit rating agencies (Moody’s, S&P and Fitch) and analyze how they currently accommodate climate change risk and ESG considerations. We elaborate on the differences between the three rating methodologies and critically evaluate...

Biofuels are a renewable alternative for reducing the climate impact of transport. Due to the versatility of biomass and complexity of economics and impacts, biofuels are part of a complex system, which is here analysed from a systems perspective. Several models are developed in order to assess...