Climate policy and stranded carbon assets: a financial perspective
Unanticipated climate policy curbs the value of physical capital that is costly to adjust. We illustrate this by showing that climate policy to keep peak global warming below 2°C depresses the share prices of oil and gas majors and their market capitalisation, curbs exploration investment a...
Główni autorzy: | Van der Ploeg, R, Rezai, A |
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Format: | Working paper |
Wydane: |
University of Oxford
2018
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