Saurabh Trivedi
Industry Ph.D. in Climate and Applied Finance
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Do Firms Benefit from Carbon Risk Management? Evidence from the Credit Default Swaps Market
This paper contributes to existing climate finance literature by examining how firms’ proactive management of carbon risks affects market assessment of their credit risk. Using two quasiexogenous events involving the 2015 Paris Climate Agreement and the staggered implementation of U.S. state climate adaptation plans, we find that stronger carbon risk management is associated with significantly […]