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light on how the optimal balance between mitigation and adaptation changes under different stochastic scenarios. We find … that stochastic technology growth hardly affects the optimal bundle of mitigation and adaptation whereas uncertainty about … composition of the optimal mix as both persuade the risk-averse social planner to invest more in mitigation. Overall, we identify …
Persistent link: https://www.econbiz.de/10011451547
the catastrophic losses, and an effort strategy (mitigation) aimed at reducing the frequency of such losses. The … optimal mix of mitigation/effort strategies allows to reduce the volatility of the economic growth rate, even if its level may …
Persistent link: https://www.econbiz.de/10012609390
Deep decarbonisation requires large-scale irreversible investments throughout the next decade. Policymakers discuss Carbon Contracts for Differences (CCfDs) to incentivise such investments in the industry sector. CCfDs are contracts between a regulator and a firm that pay out the difference...
Persistent link: https://www.econbiz.de/10012799430
Das vorliegende Diskussionspapier stellt den inhaltlichen Rahmen der kumulativen Dissertation zum Thema 'Climate Change and Corporate Innovation Processes' an der Technischen Universität Dresden dar. Diese besteht aus sechs bereits veröffentlichten Fachartikeln. Durch die gegenwärtig...
Persistent link: https://www.econbiz.de/10010291572
How climate aspects affect sovereign bonds is still a new field of research. I differentiate between transition, physical, and innovation aspects of climate risks and climate performance and estimate the pricing-in of these climate aspects in sovereign bond yields for a sample of 29 countries,...
Persistent link: https://www.econbiz.de/10013175552
This paper analyses optimal investments in innovation when dealing with a stringent climate target and with the uncertain effectiveness of Ramp;D. The innovation needed to achieve the deep cut in emissions is modelled by a backstop carbon-free technology whose cost depends on Ramp;D investments....
Persistent link: https://www.econbiz.de/10012755428
Addressing climate change as well as the role of banks in this process requires better measures about the exposures of firms and banks to climate related risks. We usually have data for large, publicly listed firms due to enhanced disclosure requirements. In this paper, we provide first...
Persistent link: https://www.econbiz.de/10014237270
Environmental, Social, and Governance (ESG) is a market for environmental criteria that has recently attracted the attention of policymakers and in particular European Union (EU) countries to improve environmental quality. In the context of the EU Sustainable Development Goals, this study aims...
Persistent link: https://www.econbiz.de/10014635477
This literature overview conducts a systematic study of how the climate related risks from global warming may affect financial markets. The climate related risk is divided into three subcategories, the environmental uncertainty, the economic climate risk and the climate policy risk, which all of...
Persistent link: https://www.econbiz.de/10011440405
We study the comprehension, mapping, and reporting of climate-related risks among firms listed on the NasdaqOMX stock exchange in Stockholm. Our study contains two parts: i) a study on the firms' external communication through their annual reports, sustainability reports and webpages, and ii) a...
Persistent link: https://www.econbiz.de/10012649458