{"id":1334,"date":"2020-03-18T09:34:33","date_gmt":"2020-03-18T08:34:33","guid":{"rendered":"https:\/\/www.uni.lu\/fdef-fr\/events\/carbon-premium-around-the-world\/"},"modified":"2020-03-18T09:34:33","modified_gmt":"2020-03-18T08:34:33","slug":"carbon-premium-around-the-world","status":"publish","type":"events","link":"https:\/\/www.uni.lu\/fdef-fr\/events\/carbon-premium-around-the-world\/","title":{"rendered":"Carbon Premium Around the World"},"content":{"rendered":"<section class=\"wp-block-unilux-blocks-free-section section\"><div class=\"container xl:max-w-screen-xl\"><p>Abstract<\/p><p><\/p><p>This paper explores how the carbon premium varies around the world. We estimate the stock return<\/p><p>premium associated with carbon emissions at the firm level in a cross-section of over 14,400 firms in 77<\/p><p>countries. We find that there is a widespread carbon premium\u2014higher stock returns for companies with higher<\/p><p>carbon emissions\u2014in all sectors over three continents, Asia, Europe, and North America. Stock returns are<\/p><p>affected by both direct and indirect emissions through the supply chain. In addition, the carbon premium has<\/p><p>been rising in recent years. We also find widespread divestment based on carbon emissions by institutional<\/p><p>investors around the world, but institutional investors tend to focus their divestment on foreign companies.<\/p><\/div><\/section>","protected":false},"excerpt":{"rendered":"<p>AbstractThis paper explores how the carbon premium varies around the world. We estimate the stock returnpremium associated with carbon emissions at the firm level in a cross-section of over 14,400 firms in 77countries. We find that there is a widespread carbon premium\u2014higher stock returns for companies with highercarbon emissions\u2014in all sectors over three continents, Asia, Europe, and North America. Stock returns areaffected by both direct and indirect emissions through the supply chain. In addition, the carbon premium hasbeen rising in recent years. We also find widespread divestment based on carbon emissions by institutionalinvestors around the world, but institutional investors tend to focus their divestment on foreign companies.<\/p>\n","protected":false},"author":0,"featured_media":1335,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","format":"standard","meta":{"featured_image_focal_point":[],"show_featured_caption":false,"ulux_newsletter_groups":"","uluxPostTitle":"","uluxPrePostTitle":"","_trash_the_other_posts":false,"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"event_start_date":"2020-03-19 12:30:00","event_end_date":"2020-03-19 13:45:00","event_speaker_name":"Marcin Kacperczyk","event_speaker_link":"","event_is_online":false,"event_location":"University of Luxembourg\r\nMetz\/Nancy Room\r\n29 Boulevard J.-F. Kennedy\r\nL-1855 Luxembourg","event_street":"","event_location_link":"","event_zip_code":"","event_city":"","event_country":"LU"},"events-topic":[301],"events-type":[],"organisation":[115],"authorship":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.3 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Carbon Premium Around the World - FDEF I Uni.lu<\/title>\n<meta name=\"description\" content=\"AbstractThis paper explores how the carbon premium varies around the world. We estimate the stock returnpremium associated with carbon emissions at the firm level in a cross-section of over 14,400 firms in 77countries. We find that there is a widespread carbon premium\u2014higher stock returns for companies with highercarbon emissions\u2014in all sectors over three continents, Asia, Europe, and North America. Stock returns areaffected by both direct and indirect emissions through the supply chain. In addition, the carbon premium hasbeen rising in recent years. We also find widespread divestment based on carbon emissions by institutionalinvestors around the world, but institutional investors tend to focus their divestment on foreign companies.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.uni.lu\/fdef-fr\/events\/carbon-premium-around-the-world\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Carbon Premium Around the World\" \/>\n<meta property=\"og:description\" content=\"AbstractThis paper explores how the carbon premium varies around the world. We estimate the stock returnpremium associated with carbon emissions at the firm level in a cross-section of over 14,400 firms in 77countries. 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