Nonlinear Effects of Climate Policy Uncertainty on Carbon Allowance and ESG Prices: Evidence From the US

Provash Sarker

EconStor Open Access Articles and Book Chapters, 2025, vol. 6, issue 1, 7 pages

Abstract: We examine the nonlinear effects of climate policy uncertainty (CPU) on California carbon allowance prices (CCA) and S&P 500 ESG stock prices (SPESG). We used the nonlinear ARDL method on monthly data from December 2013 to August 2022. Using inflation uncertainty and WTI oil prices as control variables, we found that increases in CPU positively affect carbon allowance and ESG stock prices in the short and long term.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:espost:336647

DOI: 10.46557/001c.94370

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