Climate finance

    Papers & Opinions

    Financial markets | Regulation | Theory

    Why Divest? The Political and Informational Roles of Institutions in Asset Stranding

    Paper

    Posted on 3 August 2025

    By ALI LAZRAK

    We model stakeholder-driven institutional divestiture that promotes harmful-asset stranding through both an economic exposure channel and financial prices. We introduce two novel mechanisms. First, institutional divestiture weakens stakeholders' asset exposures,...
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    Electoral politics | Empirics | Financial markets

    Investor Rewards to Climate Responsibility: Stock-Price Responses to the Opposite Shocks of the 2016 and 2020 US Elections

    Paper

    Posted on 28 January 2022

    By Stefano Ramelli

    Donald Trump's 2016 election and his nomination of climate skeptic Scott Pruitt to head the Environmental Protection Agency drastically downshifted expectations about U.S. policy toward climate change. Joseph Biden's 2020...
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