Publications

Water risks for hydroelectricity generation

Working paper by on 23 Feb 2023

This paper studies the impact of reduced water availability on hydroelectricity generation, a central piece in the low-carbon transition, in Europe and the United States.


Carbon default swap – disentangling the exposure to carbon risk through CDS

Working paper by Alexander Blasberg, Rüdiger Kiesel, Luca Taschini on 27 Jan 2023

In this paper the authors use Credit Default Swap (CDS) spreads to construct a forward-looking, market-implied carbon risk factor and study how, where and when carbon risk affects firms’ creditworthiness by examining whether firms’ exposure to carbon risk is reflected in the market prices of their CDS contracts.



Seasonal temperature variability and economic cycles

Working paper by Manuel Linsenmeier on 17 Dec 2021

In this paper, the author assembles a new set of quarterly and six-monthly temperature and GDP data for 98 countries and develops a new estimation strategy to attribute observed fluctuations in GDP to changes in temperature.



The risk of corporate lock-in to future physical climate risks: the case of flood risk in England and Wales

Working paper by Shilpita Mathews, Viktor Rözer, Swenja Surminski on 22 Nov 2021

Using the example of flood risk in England and Wales, this study looks at both the evidence for and drivers of business lock-ins to the physical risks from climate change. The findings show that decisions made today can lock businesses into future risk trajectories that may be difficult and costly to change.


Do carbon offsets offset carbon?

Working paper by Raphael Calel, Jonathan Colmer, Antoine Dechezleprêtre, Matthieu Glachant on 3 Nov 2021

In this paper the authors develop and implement a new method for identifying ‘wasted’ subsidies, and use it to provide systematic evidence on the misallocation of carbon offsets in the Clean Development Mechanism, the world’s largest carbon offset programme.



Counting carbon or counting coal? Anchoring climate governance in fossil fuel-based accountability frameworks

Working paper by Fergus Green, Declan Kuch on 31 Aug 2021

This analysis explores schemes for the monitoring, reporting and verification of fossil fuels, and points to a hybrid fossil fuel-based accountability framework that accounts for infrastructure and production volumes. Such transparency would provide opportunities for democratic oversight of climate governance efforts and channels to hold states accountable for their climate performance.