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Carbon Returns across the Globe
The pricing of carbon transition risk is central to the debate on climate-aware investments. Emissions are tightly linked to sales and are available to investors only with significant lags. The positive carbon return, or brown-minus-green return differential, documented in previous studies arises from forward-looking firm performance information contained in emissions rather than a risk premium in ex ante expected returns. After accounting for the data release lag, carbon returns turn negative in the United States and insignificant globally. Developed markets experience lower carbon returns due to intense climate concern shocks, while countries with stringent climate policies exhibit higher carbon returns.
Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| PSB lt.2 - Karya Akhir (Koleksi Majalah) | 1 |
| Penerbit | USA: The American Finance Association 2025 |
|---|---|
| Edisi | Volume 80, Issue 1, February 2025, Pages 615-645 |
| Subjek | Carbon emissions Carbon transition risk climate-aware investments |
| ISBN/ISSN | 1540-6261 |
| Klasifikasi | NONE |
| Deskripsi Fisik | ill, chart, table, grafik, 649 hal, 20 cm |
| Info Detail Spesifik | The Journal of Finance |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas |