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Enabling or Hampering? Climate Risk and the Role of Finance in the Low-Carbon Transition

Battiston, Stefano; Monasterolo, Irene; Min, Jihoon; … - 2021

system in the low-carbon transition can lead to a large underestimation of climate transition risk. The set of scenarios that … financial supervisors recommended to investors to analyse climate transition risk include scenarios labelled as ‘disorderly … reshaped depending on the timing and the extent by which financial actors assess climate risk …

Persistent link: https://www.econbiz.de/10013245676

The Climate Risk Premium : How Uncertainty Affects the Social Cost of Carbon

Lemoine, Derek - 2020

I analyze the marginal value of reducing greenhouse gas emissions (the "social cost of carbon") under uncertainty about warming, under uncertainty about how much warming reduces consumption, and under stochastic shocks to consumption growth. I theoretically demonstrate that each of these sources...

Persistent link: https://www.econbiz.de/10012856351

Endogenous Growth, Convexity of Damages and Climate Risk : How Nordhaus' Framework Supports Deep Cuts in Carbon Emissions

Dietz, Simon - 2014

risk -- optimal policy comprises strong controls. To focus on these features and facilitate comparison with Nordhaus' work …

Persistent link: https://www.econbiz.de/10013050340

Asset diversification versus climate action

Hambel, Christoph; Kraft, Holger; Ploeg, Frederick van der - 2020

price, the equilibrium risk-free rate, and risk premia. Climate disasters, which are more likely to occur sooner as … temperature rises, significantly increase risk premia. …

Persistent link: https://www.econbiz.de/10012258563

Climate policies under climate model uncertainty : max-min and min-max regret

Rezai, Armon; Ploeg, Frederick van der - 2017 - Revised May 2017

Temperature responses and optimal climate policies depend crucially on the choice of a particular climate model. To illustrate, the temperature responses to given emission reduction paths implied by the climate modules of the well-known integrated assessments models DICE, FUND and PAGE are...

Persistent link: https://www.econbiz.de/10011718250

Exploring options to measure the climate consistency of real economy investments : the transport sector in Latvia

Dobrinevski, Alexander; Jachnik, Raphaël - 2020

Mitigating climate change requires aligning real economy investments with climate objectives. This pilot study measures the climate consistency of investments in transport infrastructure and vehicles in Latvia between 2008 and 2018, estimated at EUR 1.5 billion per year on average. To do so,...

Persistent link: https://www.econbiz.de/10012422659

What we know and don't know about climate change, and implications for policy

Pindyck, Robert S. - 2020 - This draft: May 11, 2020

There is a lot we know about climate change, but there is also a lot we don't know. Even if we knew how much CO2 will be emitted over the coming decades, we wouldn't know how much temperatures will rise as a result. And even if we could predict the extent of warming that will occur, we can say...

Persistent link: https://www.econbiz.de/10012225170

Integration of the Global Carbon Markets

Mizrach, Bruce - 2014

This paper analyzes the market architecture and common factors of emission reduction instruments in Europe and North America. Spot and futures prices across exchanges in Europe are cointegrated, but the futures curve beyond the calendar year evolves independently. Despite narrower spreads,...

Persistent link: https://www.econbiz.de/10013070336

Potential climate risks in financial markets : a literature overview

Hjort, Ingrid - 2016 - Last modified Feb 3, 2016

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 them may affect the markets directly or indirectly. The perspective is … market valuation of the climate risk. …

Persistent link: https://www.econbiz.de/10011440405

Firm-Level Risk of Climate Change : Evidence from Climate Disasters

Ai, Li; Silva Gao, Lucia - 2023

, suggesting that this risk is somewhat unpredictable and undiversifiable. Furthermore, geographic dispersion increases firms …

Persistent link: https://www.econbiz.de/10014256746

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