GX & Decarbonization Research

Thomas Adjei Kuffour, Patrick Kwashie Akorsu, Peterson Owusu Junior

This study examines the dynamic interconnectedness of climate risks (physical and transition) with eight clean technology sectors and green bonds using quantile vector autoregressions (QVAR) on daily data from 2017 to 2024. Spillover effect…

Nurdina Nurdina, Nurkholis Nurkholis, Noval Adib +1

This study examines how macroeconomic variables (interest rates, inflation, exchange rates) affect green stock returns in Indonesia using data from 111 firms listed in the ESG Quality 45 Index. It finds that green assets serve as an effecti…

Windy Lawrence, L. K. Wedari

This study examines how ESG performance and carbon emission intensity affect green bond issuance among Asian firms from 2019 to 2023. Results show ESG score is negatively correlated with green bond proportion, while carbon intensity is posi…

Ladislava Issever Grochová, Marek Litzman, V. Solilová +1

This paper presents a simulation model assessing the financial viability of temporary agricultural use of brownfields, using the Špitálka site in Brno, Czechia as a case study. It compares Social Farming and Community Garden models with bio…

Isabela Marques Caetano

This article analyzes post-Paris climate governance from a historical and critical perspective, identifying contradictions in the current market-based financing model. Using Brazil as a case study, it reveals how climate finance architectur…

Y. Djoko Sukoco, Vivi Ariyani, Herlina Yoka Roida

This study examines the impact of carbon emission risk on investors' expected stock returns and beta for Indonesian non-financial firms. Using carbon emission volume as a risk proxy, it finds that after the enactment of Financial Services A…

Sung Nam Lee

This paper examines the legal nature of parametric (index-based) insurance, arguing that despite its departure from indemnity insurance, it qualifies as an insurance contract. It recommends regulatory reforms including statutory definitions…

I. Okon, Adeolu O. Adewuyi, Simplice A. Asongu

This study examines the nonlinear relationship between corporate GHG disclosure and stock returns/crash risks in six Commonwealth African countries. Using a novel wavelet-enhanced multivariate QQR method, it finds that low-disclosure firms …

Pureheart Ogheneogaga Irikefe, Angelina Seow Voon Yee, A. Zainudin +1

This paper systematically reviews and meta-analyzes the relationship between financial inclusion and carbon emissions in emerging economies. It examines both the potential for increased emissions through economic growth and reduction via gr…

Weikai Tang

Using Chinese A-share listed companies from 2007-2024, this study finds that climate shocks significantly increase corporate systemic risk. Mechanism analysis reveals pathways through financial distress, reduced production efficiency, and w…

María J. Nieto, C. Papathanassiou

This paper evaluates the effectiveness of prudential regulations for banks' physical climate risk adaptation in the EU, recommending integration into stress tests, transition plans, and Pillar III disclosures, with adaptation measures refle…

Jing Ma, Yewei Wu, Wenxin Liu

This study examines whether China's Climate Investment and Financing Policy (CIF) promotes firms' climate adaptation innovation. Using Chinese A-share listed firms and a difference-in-differences approach, they find that CIF significantly i…

Antonio Naimoli, Giuseppe Storti

This paper analyzes whether climate, geopolitical, and economic policy uncertainty indices improve tail-risk forecasts for green and brown stocks. It finds that transition climate risk dominates at the 1% level for both asset classes, while…

M. Qamruzzaman, A. Alomair, M. Alomair +1

This paper investigates spillover effects between energy and financial markets under climate policy uncertainty using TVP-VAR-SV, BK, and QVAR models. It finds that climate policy uncertainty nonlinearly affects market connectedness across …

Vito Apriyanto, Gatot Soepriyanto

This study empirically examines how carbon transition risk affects corporate financial stability in Indonesia, finding that high-emitting firms face financial penalties due to a legitimacy gap. The results confirm that carbon exposure is a …

Zia J Lyle, J. Vanbriesen, C. Samaras

This study constructs a climate change risk index for U.S. drinking water utilities and examines its association with municipal bond disclosures. It shows how climate risks are reflected in financial instruments, contributing to climate fin…

Caterina Seghini

This paper analyzes sovereign debt sustainability in the context of carbon budgets and climate damages, quantifying the impact of climate change on national debt and proposing alignment between climate policy and fiscal policy.

Lin Oktris, Siti Fathimah Azzahra, N. Nengzih +3

This systematic review synthesizes evidence from 10 empirical studies (2020-2025) on how carbon disclosure influences investor decisions. It identifies hierarchical mechanisms: information asymmetry reduction enables risk communication and …

Marwan Mansour, A. Albawwat, Ahmad Marei +2

This study analyzes the relationship between board governance effectiveness and carbon emission disclosure in ASEAN banking sectors from 2014-2023 using panel data. Fixed-effects and Tobit regressions show that board governance effectivenes…

Arindam Bandyopadhyay, P. Ray

This paper analyzes the link between CO2 emissions, ESG ratings, and credit ratings for Indian listed firms. Using CRISIL ratings and CDP data, it finds that higher ESG risks and CO2 emissions significantly increase the likelihood of lower …