"The science of climate change is still inherently uncertain, but it seems safe to say that in recent decades, the news almost always seems to be worse than what climate scientists previously believed likely. Despite being villainized by Republican politicians as being "alarmist," (and being...

We study the effects of green capital requirements that give preferential capital treatment to clean loans. From a positive perspective, our analysis clarifies the differential effects of green supporting and brown penalizing factors. From a normative perspective, we contrast optimal capital...