We introduce the decomposition of carbon emissions into an expected and an unexpected component and analyze the association between these components and firm value. The expected component captures a firm's average carbon emissions inherent to its business model and operating environment. The...

This paper studies the effectiveness of building height limits as a policy to limit greenhouse gas (GHG) emissions. It shows that building height limits lead to urban sprawl and higher emissions from commuting. On the other hand, aggregate housing consumption may decrease which reduces emissions...

Bilateral trade and capital flows have increased substantially between the United States and China yielding economic gains to both countries. However, these beneficial bilateral relations also bring about global environmental consequences including greenhouse gas emissions. The authors develop a...

Bilateral trade and capital flows have increased substantially between the United States and China yielding economic gains to both countries. However, these beneficial bilateral relations also bring about global environmental consequences including greenhouse gas emissions. We develop a...

This study seeks to establish the relationship between carbon emissions, agricultural output and industrial output in South Africa. It uses data from 1960 to 2017 based on an annual frequency, giving a total of 58 annual observations. The Autoregressive Distributed Lag technique is employed to...

The United Nations Conference on Climate Change (Paris 2015) reached an international agreement to keep the rise in global average temperature ‘well below 2°C' and to ‘aim to limit the increase to 1.5°C'. These reductions will have to be made in the face of rising global energy demand....

Carbon leakage arises when emission reductions in countries applying a carbon tax are offset, partially or completely, by emission increases in countries that do not apply the tax or any other greenhouse gas (GHG) mitigation policies. Analysis using the MAGNET computable general equilibrium...

New Zealand’s per capita greenhouse gas emissions are usually calculated by taking total emissions as reported under the Kyoto Protocol or the United Nations Framework Convention on Climate Change and simply dividing by population. However this focuses on emissions associated with production...

As of 2022, greenhouse gases (GHG) emissions reporting and auditing are not yet compulsory for all companies, and methodologies of measurement and estimation are not unified. We propose a machine learning-based model to estimate scope 1 and scope 2 GHG emissions of companies not reporting them...

We investigate the relationship between carbon intensity and default risk for South Korean firms and examine the role of investor attentiveness to environmental issues on this relationship. Using carbon emissions and Merton’s distance-to-default, we find that carbon emission is significantly...