We examine the world's largest carbon exchange, ICE's ECX, by applying Chordia et al.'s (2008) conception of short … trading carbon futures and during periods of low liquidity. Since the start of trading in Phase II of the EU Emissions Trading …

Companies face significant carbon-transition risk as the global economy works to combat climate change. This paper … studies the market-based premium associated with the carbon-transition risk globally and finds that firms with more carbon …-intense business models earn higher returns in recent years. The carbon return is impacted by climate-aware institutional flows, is …

Carbon-intensive firms have been underperforming in the U.S. despite their higher carbon transition risk. The brown …-minus-green return spread, or carbon return, is zero on average globally but varies significantly across countries with unexpected cash … flow shocks and climate taste shifts. The lower carbon return in developed markets reflects stronger growth in climate …

Companies face significant carbon-transition risk as the global economy works to combat climate change. This paper … studies the market-based premium associated with the carbon-transition risk globally and finds that firms with more carbon …-intense business models earn higher returns in recent years. The carbon return is impacted by climate-aware institutional flows, is …

Several recent articles have analyzed climate policy giving explicit attention to the non-renewable character of carbon … reasonable to interpret as the whole world. However, carbon taxes and other climate policies differ substantially across …

gas market until 2050. Three pathways of natural gas consumption in a future low-carbon energy system in Europe are …

with two nonrenewable fossil fuels that differ in their carbon content (e.g., coal and natural gas) and that are imperfect … intertemporal substitution of resource use. When emissions are unexpectedly restricted, it is cost-effective to use high-carbon … constraint is anticipated, it is cost-effective to use relatively more (less) of the low-carbon input before the constraint …

Several recent articles have analyzed climate policy giving explicit attention to the non-renewable character of carbon … reasonable to interpret as the whole world. However, carbon taxes and other climate policies differ substantially across …