The rising risks of fossil fuel lobbying

被引：13

作者：

Lantushenko, Viktoriya ^{[1
]}

Schellhorn, Carolin ^{[1
]}

机构：

[1] St Josephs Univ, Haub Sch Business, Dept Finance, Philadelphia, PA 19131 USA

来源：

GLOBAL FINANCE JOURNAL | 2023年 / 56卷

关键词：

Climate risk; Climate policy; Financial stability; Fossil fuels; Lobbying; CLIMATE TIPPING POINTS; RETURN; COST;

D O I：

10.1016/j.gfj.2023.100829

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

For 2009 to 2018, we find that fossil fuel firms are more likely to lobby and that lobbying ex-penditures are greater with increases in a firm's vulnerability to climate change news risk. The industry's resistance to a timely low-carbon transition has spawned a divestment movement that accelerated in 2014. Estimates of fossil fuel firm vulnerability to climate change news risk in-crease after 2013, strengthening firms' inclination to lobby just when this activity becomes less valued by shareholders. We consider the financial implications of continued climate policy obstruction for financial system stability and the success of the clean energy transition.

引用

页数：17

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