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Stock price rewards for climate saints and sinners


Ramelli, Stefano; Wagner, Alexander; Ziegler, Alexandre; Zeckhauser, Richard (2018). Stock price rewards for climate saints and sinners. London: VoxEU.org / CEPR.

Abstract

President Trump’s election and the nomination of Scott Pruitt to lead the Environmental Protection Agency changed expectations of US climate change policy. This column uses movements in US stock prices to show that firms with high carbon intensity benefited, as expected, but so did firms with ‘responsible’ strategies on climate change. A significant group of investors raise the value of firms taking a long-term perspective.

Abstract

President Trump’s election and the nomination of Scott Pruitt to lead the Environmental Protection Agency changed expectations of US climate change policy. This column uses movements in US stock prices to show that firms with high carbon intensity benefited, as expected, but so did firms with ‘responsible’ strategies on climate change. A significant group of investors raise the value of firms taking a long-term perspective.

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Additional indexing

Item Type:Scientific Publication in Electronic Form
Communities & Collections:03 Faculty of Economics > Department of Banking and Finance
Dewey Decimal Classification:330 Economics
Language:English
Date:29 October 2018
Deposited On:22 Feb 2019 15:50
Last Modified:22 Feb 2019 15:51
Publisher:VoxEU.org / CEPR
OA Status:Closed
Official URL:https://voxeu.org/article/stock-price-rewards-climate-saints-and-sinners
Other Identification Number:merlin-id:17202

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