Systemic Risk Centre Seminar

Date: Monday, 27th February 2023   
Time: 1.00 - 2.00pm GMT 
Speaker: Shaojun Zhang (The Ohio State University)
Seminar title: Carbon Premium: Is It There?

AbstractThe carbon premium refers to the excess return associated with the carbon-brown firms and is the focus of several recent influential studies. After accounting for the data release lag and with value weighting, less carbon-intensive firms deliver higher returns in the U.S., while there is no excess return associated with total carbon emissions and emission growth. Internationally, the carbon return is zero on average and is lower in countries with strong in-sample green shocks during the transition, such as sustainable flows and climate concerns. After controlling for the in-sample shocks, the carbon return is higher in countries more exposed to climate change.

This event is provided online only. It is a public event, free and open to all but pre-registration is required. Registrations made after the start of the event may not be approved.