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Publicação
Climate change and financial markets: how well do investors anticipate climate risk
| Nome: | Descrição: | Tamanho: | Formato: | |
|---|---|---|---|---|
| 5.03 MB | Adobe PDF |
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Orientador(es)
Resumo(s)
The thesis aims to initiate research efforts into the fundamental impact of climate risk on
financial markets, diverging from the conventional retrospective approach. To address the
existent gap in the literature, a new climate risk index is introduced to eliminate information
lags, revealing investors tendency to anticipate risk only during certain periods of the year, while
generally underestimating its magnitude. Additionally, a methodology about weather derivatives
in the context of climate change to hedge fundamental risk is outlined, offering investors tools
to mitigate uninsurable financial risk exposure.
Descrição
Palavras-chave
Financial markets Climate risk Hedging systematic risk Risk management Weather derivatives Climate change Hedging climate change