Seminar

Seminar: Finance and Carbon Emissions

Woensdag 17 april 2019 geeft Ralph de Haas (EBRD) een presentatie getiteld: "Finance and Carbon Emissions"

Datum
17 april 2019
Tijd
13:00 - 14:00
Locatie
CPB-kantoor, Bezuidenhoutseweg 30, Den Haag (Vergaderzaal 3 - Braamzaal)
Presentatie
Ralph de Haas (EBRD)
Discussant
Karen van der Wiel (CPB)
Voertaal
English

LET OP: dit seminar vindt op een woensdag plaats

We study the relation between the structure of financial systems and carbon emissions in a large panel of countries and industries over the period 1990-2013. We find that for given levels of economic and financial development, CO2 emissions per capita are lower in economies that are relatively more equity-funded. Industry-level analysis reveals two distinct channels: stock markets reallocate investment towards less polluting sectors and, second, they push carbon-intensive sectors to develop and implement greener technologies. In line with this second channel, we show that carbon-intensive sectors produce more green patents as stock markets deepen.

Contactpersonen

Foto Simone Pailer
Simone Pailer +31 6 18052217 Lees verder