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Contribution Details
Type | Conference Presentation |
Scope | Discipline-based scholarship |
Title | Too Big to Strand: Bond to Bank Substitution in the Transition to a Low-carbon Economy |
Organization Unit | |
Authors |
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Presentation Type | keynote |
Item Subtype | Original Work |
Refereed | Yes |
Status | Published in final form |
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Event Title | 2nd Financial Economics Meeting: Crisis Challenges (FEM-2021 |
Event Type | conference |
Event Location | Paris |
Event Start Date | July 1 - 2021 |
Event End Date | July 2 - 2021 |
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. |
Official URL | https://fem.sciencesconf.org/ |
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Export | BibTeX |