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Contribution Details
| Type | Journal Article |
| Scope | Discipline-based scholarship |
| Title | Let’s Get Physical: Comparing Metrics of Physical Climate Risk |
| Organization Unit | |
| Authors |
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| Item Subtype | Original Work |
| Refereed | Yes |
| Status | Published in final form |
| Language |
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| Journal Title | Finance Research Letters |
| Publisher | Elsevier |
| Geographical Reach | international |
| ISSN | 1544-6123 |
| Volume | 46 |
| Page Range | 102406 |
| Date | 2022 |
| Abstract Text | Investors and regulators require reliable estimates of physical climate risks for decision-making. While assessing these risks is challenging, several commercial data providers and academics have started to develop firm-level physical risk scores. We compare six physical risk scores. We find a substantial divergence between these scores, also among those based on similar methodologies. We show how this divergence could cause problems when testing whether financial markets are pricing physical risks. Hence, financial markets may not adequately account for the physical risk exposure of corporations using available risk scores. Finally, we identify key sources of uncertainty for further investigation. |
| Free access at | DOI |
| Official URL | https://www.sciencedirect.com/science/article/pii/S1544612321004013 |
| Related URLs |
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| Digital Object Identifier | 10.1016/j.frl.2021.102406 |
| Other Identification Number | merlin-id:21429 |
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