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What Do You Think about Climate Finance?

Author

Listed:
  • Johannes Stroebel
  • Jeffrey Wurgler

Abstract

We survey 861 finance academics, professionals, and public sector regulators and policy economists about climate finance topics. They identify regulatory risk as the top climate risk to businesses and investors over the next five years, but they view physical risks as the top risk over the next 30 years. By an overwhelming margin, respondents believe that asset prices underestimate climate risks rather than overestimate them. We also tabulate opinions about the correlation between growth and climate change; social discount rates appropriate for projects that mitigate the effects of climate change; most influential forces for reducing climate risks; and, most important research topics.

Suggested Citation

  • Johannes Stroebel & Jeffrey Wurgler, 2021. "What Do You Think about Climate Finance?," CESifo Working Paper Series 9350, CESifo.
    • Handle: RePEc:ces:ceswps:_9350
    as

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    File URL: https://www.cesifo.org/DocDL/cesifo1_wp9350.pdf
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    More about this item

    Keywords

    climate finance; environment; ESG; SRI; social discounting;
    All these keywords.

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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