The financial risks and potential systemic impacts induced by climate change and the
transition to a low‐carbon economy have become a central issue for both financial investors …

Global warming is pressuring policymakers to change climate policies in shifting the global
economy onto a net-zero pathway. While financial assets are responsive to policy changes …

Based on the previous studies that Markov-type GARCH models exhibit inconsistent
predictive ability over different horizons, we conduct the improvement of predictive power of …

After a boom and bust cycle in the early 2010s, venture capital (VC) investments have, once
again, been flowing towards some green businesses since 2015. In this paper, we use …

We use machine learning algorithms to construct a novel news-based index of US
environmental and climate policy uncertainty (EnvPU) available on a monthly basis over the …

A disorderly transition to a low-carbon economy may pose significant costs for both financial
and nonfinancial firms through the stranding of physical assets, firms' defaults, and volatility …

Using the GARCH model and quantile regression with dummy variables, we investigate the
hedging and safe haven properties of carbon futures and clean energy stocks against the …

The rapid development of renewable energy and the increasing significance of
environmental policy have spurred scholarly interest in their economic and environmental …

We develop a dynamic model where heterogeneous firms take investment decisions
depending on their beliefs on future carbon prices. A policy-maker announces a forward …

This paper examines the impact of climate policy uncertainty (CPU) on carbon dioxide (CO2)
emissions of 1007 listed firms over 2003–2021. As the urgency to combat climate change …