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Contribution Details

Type Scientific Publication In Electronic Form
Scope Discipline-based scholarship
Title Fuelling fossil fuel: bond to bank substitution in the transition to a low-carbon economy, principles for responsible investment
Organization Unit
Authors
  • Winta Beyene
  • Manthos D Delis
  • Kathrin De Greiff
  • Steven Ongena
Language
  • English
Place of Publication London
Publisher Principles for Responsible Investment
Date 2020
Abstract Text Fossil fuel investments over the past few years are at the centre of political debates about climate change policy. This article explores the role market- and bank-based debt play in the climate transition process. It presents evidence that fossil fuel firms increasingly substitute bonds for syndicated bank loans, when banks price the risk of stranded assets less than the bond market.
Free access at Official URL
Official URL https://www.unpri.org/pri-blog/fuelling-fossil-fuel-bond-to-bank-substitution-in-the-transition-to-a-low-carbon-economy/5712.article
Other Identification Number merlin-id:19438
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