Carbon Pricing for Sustainable Automotive Transition
持続可能な自動車移行のためのカーボンプライシング (AI 翻訳)
Natania Thomas
🤖 gxceed AI 要約
日本語
本論文はインド自動車産業における炭素強度と加重平均負債コストの関係を分析。高い排出を持つ企業は借入コストが高く、グリーン投資が短期的な資本要求を増やすJカーブ効果を確認。金融市場が持続可能性を促進する役割を示す。
English
This paper analyzes the relationship between carbon intensity and weighted average cost of debt in the Indian automotive industry. It finds that firms with higher emissions face higher borrowing costs and identifies a J-curve effect where green capex increases short-term capital needs. The study shows financial markets as drivers of sustainability.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
インドの事例だが、日本の自動車メーカーや金融機関がトランジション・ファイナンスやカーボンリスクを評価する上で参考になる。日本でもEVシフトに伴う資金調達構造の変化が課題となる。
In the global GX context
This India-focused study provides empirical evidence on carbon risk premium in emerging markets, relevant for global transition finance discussions. It highlights how financial markets reward sustainability, offering insights for countries pursuing EV targets.
👥 読者別の含意
🔬研究者:Empirical evidence on carbon risk premium and J-curve effect in emerging market automotive sector.
🏢実務担当者:Insights on how carbon intensity affects borrowing costs and the financial trade-offs of green Capex.
🏛政策担当者:Demonstrates the role of financial markets in driving decarbonization, relevant for designing carbon pricing policies.
📄 Abstract（原文）
This paper analyses in the automobile industry in India an emerging Financial-Environmental Feedback Loop. It brings quite some critical questions into focus such as does Indian financial sector indeed reward companies leading in sustainability with Greenium? do companies with higher emission face Carbon Risk Premium? The automakers are caught in a Decarbonization Dilemma as India pursue their 200 billion electric vehicle (EV) target, a move which is geared towards achieving the SDG 13 and 9. The study uses a time series data approach of five years on five major companies, Tata Motors, Mahindra and Mahindra, Maruti Suzuki, Ashok Leyland and TVS Motor Company, which are major representation of the automotive industry in India. The triangulated methodology uses audited financial statements, mandatory BRSR, and government Vahan Dashboard as a methodology to map the relationship between Carbon intensity and weighted average cost of debt. The initial observations show that poor environmental performance of a firm with high emission is always associated with high borrowing costs. Also, the researchers discovered the J-curve impact of transition financing in the scenario where the large investments in Green Capex, on the part of the companies in the EV markets, increase the breadth of their debt-to-equity ratios that exposes them to short term capital requirements. This insight illustrates the fact that the financial markets of India are no longer spectators/observers but willing drivers of SDGs to become sustainable in the long run and hence remain competitive in the long run.
🔗 Provenance — このレコードを発見したソース
- crossref https://doi.org/10.62823/mgm/2026/iii/9789349468061/12first seen 2026-06-16 05:35:16
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