Business Commons^™

Is Carbon Risk Priced In The Cross-Section Of Corporate Bond Returns?, Tinghua Duan, Frank Weikai Li, Quan Wen

Research Collection Lee Kong Chian School Of Business

This paper examines the pricing of a firm's carbon risk, measured by its carbon emissions intensity, in the cross-section of corporate bond returns. Contrary to the "carbon risk premium" hypothesis, we find bonds of firms with higher carbon emissions intensity earn significantly lower returns. This effect cannot be explained by a comprehensive list of bond characteristics and exposure to known risk factors. Investigating sources of the low carbon premium, we find the underperformance of bonds issued by carbon-intensive firms cannot be fully explained by divestment from institutional investors. Instead, our evidence is most consistent with investor underreaction to carbon risk, …

Is Carbon Risk Priced In The Cross Section Of Corporate Bond Returns?, Tinghua Duan, Frank Weikai Li, Quan Wen

Research Collection Lee Kong Chian School Of Business

This article examines the pricing of a firm’s carbon risk in the corporate bond market. Contrary to the “carbon risk premium” hypothesis, bonds of more carbon-intensive firms earn significantly lower returns. This effect cannot be explained by a comprehensive list of bond characteristics and exposure to known risk factors. Investigating sources of the low carbon alpha, we find the underperformance of bonds issued by carbon-intensive firms cannot be fully explained by divestment from institutional investors. Instead, our evidence is most consistent with investor underreaction to the predictability of carbon intensity for firm cash-flow news, creditworthiness, and environmental incidents.

How Sending E-Mails Compares With Carbon Emission Of Car Use, Thomas Menkhoff

Research Collection Lee Kong Chian School Of Business

Digitalnatives can reduce their carbon footprint by being conscious about Internetusage. Everwondered how your e-mails may contribute to your personal carbon footprint? Accordingto estimates published in Phys.org, sending a short e-mail adds about 4g of CO2equivalent (gCO2e) to the atmosphere (an e-mail with a long attachment has atenfold carbon footprint, that is 50 gCO2e.

Resolving The Policy Paradox: The Case Of Biofuel Production In Ireland, Alan Gilmer, Mark J. Mcgarrity, Vivienne Byers

Articles

Purpose – The purpose of this paper is to determine the status of policy design and policy implementation in the biofuel sector in Ireland. The focus of the work addresses the overarching operational context of the biofuel sector in Ireland and the role of different actors in shaping and resolving inconsistencies in policy outlook and practice. Design/methodology/approach – This study used a qualitative research approach involving a series of semi-structured interviews with members of the relevant sub-groups concerned. This study sought to address two questions – whether current or proposed policy is likely to affect consumption of indigenous biofuel feedstocks …

Slides: The Columbia River Treaty, Barbara Cosens

Innovations in Managing Western Water: New Approaches for Balancing Environmental, Social and Economic Outcomes (Martz Summer Conference, June 11-12)

Presenter: Barbara Cosens, Professor, University of Idaho College of Law and Waters of the West Graduate Program

22 slides