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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

Closed-form integrated assessment and uncertainty

Traeger, Christian - 2015

-form expressions of welfare loss from shocks and epistemological uncertainty identify the interaction of (intertemporal) risk attitude …

Persistent link: https://www.econbiz.de/10011305430

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

The safe carbon budget

Ploeg, Frederick van der - 2017 - Revised August 2017

or 1.5oC. The safe carbon budget is lower if uncertainty about the transient climate response is high and risk tolerance …

Persistent link: https://www.econbiz.de/10011717248

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

Climate Engineering Under Deep Uncertainty and Heterogeneity

Emmerling, Johannes - 2017

Climate Engineering, and in particular Solar Radiation Management (SRM) has become a widely discussed climate policy option to study in recent years. However, its potentially strategic nature and unforeseen side effects provide major policy and scientific challenges. We study the role of the SRM...

Persistent link: https://www.econbiz.de/10012968338

Robust Control in Global Warming Management : An Analytical Dynamic Integrated Assessment

Hennlock, Magnus - 2009

Imperfect measurement of uncertainty (deeper uncertainty) in climate sensitivity is introduced in a two-sectoral integrated assessment model (IAM) with endogenous growth, based on an extension of DICE. The household expresses ambiguity aversion and can use robust control via a 'shadow ambiguity...

Persistent link: https://www.econbiz.de/10013160096

Believe me when I say green! : heterogeneous expectations and climate policy uncertainty

Campiglio, Emanuele; Lamperti, Francesco; Terranova, Roberta - 2023 - This version: March 2023

announcements, can trap the economy into a vicious circle of credibility loss, carbon-intensive investments and increasing risk …

Persistent link: https://www.econbiz.de/10014232654

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