Theory of Carbon Risk

Martin Hellmich and Rüdiger Kiesel

Chapter 4 in Carbon Finance:A Risk Management View, 2021, pp 61-80 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The following sections are included:What Should the Price for Carbon Be?Utility FrameworkRisk Aversion and Intertemporal SubstitutionAmbiguity and UncertaintyAsset Pricing ApproachesDiscrete-Time ModelsContinuous-Time ModelsWhat Do the Markets Think?Green Impact InvestingGreen vs. Brown Stocks

Keywords: Climate Finance; Carbon Risks; Transition Risks; Emission Certificates; Green Bonds; Carbon Credits; Stress Tests; Machine Learning; Physical Risks; Carbon Markets; Carbon Disclosure; Carbon-Intensity; Commodity Markets; Climate Economics; Climate Risks; Big Data; Emission Certificates; Carbon Investors; Divestment (search for similar items in EconPapers)
JEL-codes: G1 G32 Q5 Q54 (search for similar items in EconPapers)
Date: 2021
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