The first Global Climate Strike on March 15, 2019 has represented a historical turn in climate activism. We investigate the cross-section of European stock price reactions to this event. Looking at a large sample of European firms, we find that the unanticipated success of this event caused a...

This study considers the implications of long-run temperature risk in U.S. equity markets. Using raw temperature data, I create a proxy for low frequency temperature shocks and test for the existence of a priced temperature risk factor. I find no evidence supporting the existence of a...

We use the forward-looking information from the US and global capital markets to estimate the economic impact of global warming, specifically, long-run temperature shifts. We find that global warming carries a positive risk premium that increases with the level of temperature and that has almost...