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Climate Finance

Author

Listed:
  • Stefano Giglio
  • Bryan T. Kelly
  • Johannes Stroebel

Abstract

We review the literature studying interactions between climate change and financial markets. We first discuss various approaches to incorporating climate risk in macro-finance models. We then review the empirical literature that explores the pricing of climate risks across a large number of asset classes including real estate, equities, and fixed income securities. In this context, we also discuss how investors can use these assets to construct portfolios that hedge against climate risk. We conclude by proposing several promising directions for future research in climate finance.

Suggested Citation

  • Stefano Giglio & Bryan T. Kelly & Johannes Stroebel, 2020. "Climate Finance," NBER Working Papers 28226, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:28226
    Note: AP CF EEE EFG PE
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Climate Finance
      by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets on 2021-05-31 11:38:10

    More about this item

    JEL classification:

    • G0 - Financial Economics - - General

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