本文评估了拥有成熟投资者和大公司的市场在多大程度上为气候政策带来的转型风险定价。该分析利用了企业经济和环境绩效的纵向数据——通过排放强度、缓解技术的专利活动和ESG得分来衡量——以及银团贷款数据。它提供了三个主要结果。首先，随着气候变化缓解政策变得更加严格，具有良好环境绩效（就排放强度或缓解技术专利活动而言）的公司受益于显著降低的债务成本。其次，ESG评分及其环境支柱信息不足，无法评估和定价国内气候政策风险。第三，更严格的缓解政策通过降低债务成本来鼓励对绿色企业的投资：碳税增加约10欧元/吨二氧化碳，对具有高专利活动的缓解技术企业的投资增加约12%，而对具有高排放强度的企业的投资减少约11%。本文讨论了改善企业环境绩效指标可用信息的政策，以使规模较小、不太成熟的投资者能够评估企业的气候转型风险，并根据减排目标分配资本。
《破坏能源安全的谬论》是该研究所ESG（环境、社会和治理）投资系列中的一篇新文章，该文章强调了增加石油和天然气供应对加拿大和世界的重要性，但目前不切实际的政府气候政策和法规阻碍了这一点。
Long before Russia invaded Ukraine, governments across Europe were rushing to subsidize consumer power bills to offset the dramatic increase in energy prices. Last month, the United Kingdom announced a $15 billion rebate program to support households while France ($841 million) and Italy ($6.2 billion) have already spent big bucks to offset soaring electricity prices.
Geoengineering is a catchword for a wide range of techniques, and it is becoming an international issue that will grow in importance as the costs of certain technologies fall or as greenhouse gas emissions continue to decline, making these techniques more attractive.
On its path to carbon neutrality, the European Union (EU) will be exposed to growing energy price volatility and vulnerable to Russian and Chinese pressure on supply and demand.
Deforestation continues at a worrying pace worldwide, except in temperate and boreal countries. It is caused by the race for land, underpinned by population growth and rising global demand for “deforestation-prone” products. Moreover, with climate change, mega-fires are now posing...
If sub-Saharan Africa followed the same model of economic development as the rest of the world, focused on the growth of carbon intensive industries, cities and infrastructures, it would seal the planet's climate future. Africa’s emissions today are among the lowest per capita in the world: 0.8 tons/capita.
As countries recover from the COVID-19 pandemic, the major countries of the world are turning their attention to the next UN climate conference (COP26), scheduled for November 2021. China, the European Union (EU), and the United States (US) are the world’s top three greenhouse gas (GHG) emitters, so their cooperation is essential. The EU and the US have laid out ambitious intentions, but their goals may be more aspirational than convincing. At this writing, however, Beijing has not put a cap on carbon emissions, nor has it specified mechanisms to reduce GHG emissions. Tough negotiations will be needed to close loopholes and set a clear action agenda if the goals are to be met.
In recent years, Denmark has steadily emerged as a leader and role model in the global green energy transition. Its greenhouse gas (GHG) emissions since 2010 have been reduced at greater pace than those of the European Union (EU) average.
