In this article, we review the literature studying interactions between climate change and
financial markets. We first discuss various approaches to incorporating climate risk in …

We explore the design of climate stress tests to assess and manage macroprudential risks
from climate change in the financial sector. We review the climate stress scenarios currently …

Climate change impacts threaten the stability of the US housing market. In response to
growing concerns that increasing costs of flooding are not fully captured in property values …

The energy transition away from fossil fuels exposes companies to carbon‐transition risk.
Estimating the market‐based premium associated with carbon‐transition risk in a cross …

An influential emerging literature documents strong correlations between carbon emissions
and stock returns. We re-examine those data and conclude that these associations are …

Flood risks in the United States have historically been underestimated, particularly with
respect to human well-being and within low-wealth and marginalized communities. Here, we …

We propose and implement a procedure to dynamically hedge climate change risk. We
extract innovations from climate news series that we construct through textual analysis of …

This paper studies whether house prices reflect belief differences about climate change. We
show that in an equilibrium model of housing choice in which agents derive utility from …

Using a comprehensive database of coastal home sales merged with data on elevation
relative to local tides, we compare prices for houses based on their inundation threshold …

Homes exposed to sea level rise (SLR) sell for approximately 7% less than observably
equivalent unexposed properties equidistant from the beach. This discount has grown over …