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The scenario-based equity price impact induced by greenhouse gas emissions
Weth, Mark A.; Baltzer, Markus; Bertram, Christoph; … - 2024
This paper proposes a forward-looking metric of transition risk that relates financial performance and incremental carbon costs at the firm level. To this end, we use a consistent dividend discount framework augmented with emission costs of firms and climate scenario projections from four...
Persistent link: https://www.econbiz.de/10015048429
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Current State of Africa’s Experience of Carbon Pricing and Recommendations for the Future
Duho, King Carl Tornam - 2021
The state of carbon pricing in Africa is bleak as only South Africa has a carbon tax implemented while Senegal and Côte d’Ivoire have their emissions trading scheme (ETS) or carbon tax under consideration. Africa’s success in mitigating climate change with market-based mechanisms will be...
Persistent link: https://www.econbiz.de/10013213563
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Carbon Beta : A Market-Based Measure of Climate Risk
Huij, Joop; Laurs, Dries; Stork, Philip A.; Zwinkels, … - 2022
We propose a proxy for a climate risk factor, the pollutive-minus-clean (PMC) portfolio, which captures differences in returns to firms that have high versus low corporate emissions. By regressing individual stock returns on the PMC factor, we obtain estimates of asset-level climate risk...
Persistent link: https://www.econbiz.de/10013313928
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The Role of Fundamentals and Policy in New Zealand’s Carbon Prices
LIAO, LING; Diaz-Rainey, Ivan; Gehricke, Sebastian; … - 2022
The New Zealand Emission Trading Scheme (NZ ETS) is the second oldest national ETS in the world and is unique in that …
Persistent link: https://www.econbiz.de/10014030168
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Why Carbon Border Adjustment Mechanisms will not Save the Planet but a Climate Club and Subsidies for Transformative Green Technologies may
Tarr, David G.; Kuznetsov, Dmitrii; Overland, Indra; … - 2022
We find that both economic theory and empirical results show that carbon border adjustment mechanisms (CBAMs) will be … carbon reduction in most countries in the world, not simply the absence of carbon leakage. Our case study of the Russian … assess the advantages and disadvantages of three approaches to allowing a Climate Club within the rules of the World Trade …
Persistent link: https://www.econbiz.de/10014078988
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The Regional Greenhouse Gas Initiative : Emission Leakage and the Effectiveness of Interstate Border Adjustments
Kolodziej, Marek; Sue Wing, Ian - 2015
We use theoretical and numerical general equilibrium models to analyze the Regional Greenhouse Gas Emission Initiative (RGGI), a cap-and-trade scheme to limit carbon dioxide emissions from electricity generators across ten states in the northeast U.S. Although RGGI’s economic impacts are...
Persistent link: https://www.econbiz.de/10014205486
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Intensity-based rebating of emission pricing revenues
Böhringer, Christoph; Fischer, Carolyn; Rivers, Nicholas - 2022 - Current Draft: May 2022
Carbon pricing policies worldwide are increasingly coupled with direct or indirect subsidies where emissions pricing revenues are rebated to the regulated entities. This paper analyzes the incentives created by two novel forms of rebating that reward additional emission intensity reductions: one...
Persistent link: https://www.econbiz.de/10013203035
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The Future of Forests : Emissions from Tropical Deforestation with and Without a Carbon Price, 2016-2050
Busch, Jonah - 2015
We project the future of tropical deforestation from 2016-2050 with and without carbon pricing policies, based on 18 million observations of historical forest loss spanning 101 tropical countries. Our spatial projections of future deforestation incorporate topography, accessibility, protected...
Persistent link: https://www.econbiz.de/10013014117
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(Private)-Retroactive Carbon Pricing [(P)Recap] : A Market-Based Approach for Climate Finance and Risk Assessment
Bengio, Yoshua; Gupta, Prateek; Radovic, Dylan; Scholl, … - 2022
government involvement, we introduce the Private ReCaP (PReCaP) prediction market, which could see real-world implementation …
Persistent link: https://www.econbiz.de/10013290203
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Carbon Prices for the Next Hundred Years
Gerlagh, Reyer - 2014
World income grows fast without verifiable climate-change impacts on the economy. The growth spell can end if climate …
Persistent link: https://www.econbiz.de/10013056827