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XF-UMC3EGE-O
Research / Academic Paper ACTIVE

Carbon tail risk

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Abstract

Abstract Strong regulatory actions are needed to combat climate change, but climate policy uncertainty makes it difficult for investors to quantify the impact of future climate regulation. We show that such uncertainty is priced in the option market. The cost of option protection against downside tail risks is larger for firms with more carbon-intense business models. For carbon-intense firms, the cost of protection against downside tail risk is magnified at times when the public’s attention to climate change spikes, and it decreased after the election of climate change skeptic President Trump.

Source: resolved

Document Metadata

Issuer
Oxford University Press (OUP)
Document Type
Research / Academic Paper
Publication Year
2021
Retrieved
5 May 2026
Source
doi.org
Record ID
XFUMC3EGEO
Validation
Inferred by XFID

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SHA-256 (file bytes)
1db3b0d40a3af553c47be0dbb749c6876ed7b8ad38834263c68a4292c56b8661
SHA-256 (canonical content)
1db3b0d40a3af553c47be0dbb749c6876ed7b8ad38834263c68a4292c56b8661

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Topics

Asset PricingTransition Risk

Cited by (1)

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Academic / report citation
Oxford University Press (OUP) (2021). Carbon tail risk. XFID: XF-UMC3EGE-O. Retrieved from https://xframework.id/XFUMC3EGEO
Identifier only
XF-UMC3EGE-O