There exists mixed evidence about the pricing of climate transition risk on financial markets. While some scholars were able to find a “brown” premium, others identified a “green” premium for stocks benefitting from the climate transition. I contribute to this debate methodologically by...

A rapidly rising carbon tax leads to faster extraction of fossil fuels and accelerates global warming. We analyze how general equilibrium effects operating through the international capital market affect this Green Paradox. In a two-region, two-period world with identical homothetic preferences...

The way in which climate policy and climate risks are currently accounted for in financial and real investment decisions is inadequate. The paper demonstrates weaknesses in methods presently used and proposes an alternative that aims to bridge the duration gap between climate policy modeling and...

Russia wants to realise a high degree of self-regulated stability in the Arctic. Moscow considers this necessary for overcoming the many problems and obstacles to development that are linked to its ambitious plans as well as the consequences of climate change. The regression of sea ice is...

The mandate for this study was to undertake an evaluation of EU external action as managed by three DGs: DG RELEX, DG DEV and DG AIDCO. The Terms of Reference identified two main objectives (ToR, Feb 2010, Section 1 – reproduced in Annex 1): · To provide an overall independent assessment of...