Utilizing two novel measures of transition and physical climate risks obtained from textual
analysis, we examine the hedging benefits of various green assets and popular precious …

Adverse ecological effects have recently generated several eco-friendly investment
opportunities including green and climate bonds. Although climate bonds have emerged as …

We propose and implement a procedure to dynamically hedge climate change risk. We
extract innovations from climate news series that we construct through textual analysis of …

In this article, we review the literature studying interactions between climate change and
financial markets. We first discuss various approaches to incorporating climate risk in …

This paper examines the effect of climate uncertainty on the spillover effects across the
European conventional and environmental, social, and governance (ESG) financial markets …

This note reviews the empirical evidence available in the academic literature about the
impact of climate-related risks on financial assets. It addresses three main questions: does …

The financial system could help achieve the global climate targets by aligning investments to
sustainability. However, investors are largely exposed to carbon-intensive assets that could …

We provide first-time evidence on whether market-wide physical or transition climate risks
are priced in US stocks. Textual and narrative analysis of Reuters climate-change news over …

We construct novel proxies of physical and transition climate risks by conducting textual
analysis of climate-change news over the period 2000-2018. This analysis uncovers four …

Growing concerns about climate change have generated several ecofriendly investments,
including green bonds. This study investigates the impacts of geopolitical, economic and …