GX & Decarbonization Research

Nicholas Apergis, Giuseppina Chesini, Thomas Poufinas

This study analyzes factors affecting yields of green bonds issued by European banks. It finds that ESG scores, Scope 1/2/3 emissions, and alignment with climate-related SDGs have a negative impact on yields, while the green bond label and …

Azergun, Hikmet Nazli

Based on two years of immersive fieldwork at a leading Norwegian sustainable finance institution, this dissertation reveals three 'impossibilities' that constrain sustainable finance: severe limitations of source data, unresolvable ethical …

Fernández Salguero, Ricardo Alonzo

This paper synthesizes 22 meta-analyses and reviews on climate risk and green finance, assessing consensus on three areas: impact of climate risk on asset valuation, existence of a green bond premium (greenium), and effects of green finance…

Lévy, Nathalie, Moukoumia, Derick

This paper systematically reviews the integration of double materiality into EU sustainable finance labels (SFDR, CSRD, Taxonomy). It analyzes impact measurement mechanisms such as Principal Adverse Impacts (PAI), green share, and sectoral …

Dirk A. Zetzsche, Marian Unterstell, Ross P. Buckley +1

This paper argues that the EU's Sustainable Finance Strategy is fundamentally a data strategy, requiring datafication across financial, production, and service sectors. It draws lessons from prior datafication in finance and recommends co-d…

Maya Dasgupta

This paper comprehensively evaluates the role of green finance in mitigating climate-related financial risks (physical and transition) and fostering financial stability. It examines instruments like green bonds and loans, highlighting chall…

Xiaoqing Li, Jingjing Deng

Using panel data from 2008-2023 on Chinese A-share listed firms, this study demonstrates that green finance significantly enhances firms' synergistic performance in pollution and carbon abatement. The effect operates through resource reallo…

Cristiana Tudor, Aura Girlovan, Robert Sova +2

This paper analyzes how emissions trading systems (ETS) transmit macroeconomic shocks using monthly data from seven jurisdictions. Using PVAR-CCE and XGBoost, it finds that ETS returns have spillover effects on unemployment and inflation, w…

Maciejowski, Jan, Leonelli, Manuele

This paper uses Bayesian networks to analyze drivers of EUA futures prices under the EU ETS, covering 2013-2025. Energy commodities (coal, oil) are the most influential, while stock market sentiment affects prices indirectly. The dynamic mo…

Ana Beatriz Leite, Teresa Ponce De Leão

This paper analyzes the EU Carbon Border Adjustment Mechanism (CBAM) as a carbon pricing policy for imports to prevent carbon leakage and ensure fair competition. It examines integration with the EU ETS, MRV systems, and a steel sector case…

Do Phu Hai

This study empirically evaluates the EU's CBAM and ETS linkage using gravity models and CGE simulations for six developing-country exporters. It finds carbon-intensive exports decline by 9–21% and EU welfare losses nearly double compared to…

Zhipeng Han, Liguo Wang

This study combines partial equilibrium modeling with empirical analysis to show that emissions trading systems (ETS) significantly promote green transformation of industrial enterprises by incentivizing low-carbon innovation and alleviatin…

C. José García, Begoña Herrero, Francisco Morillas‐Jurado

This study examines the impact of carbon prices under the EU Emissions Trading System (EU-ETS) on firm-level GHG emissions and environmental innovation. Findings show carbon prices have a negative relationship with corporate CO2 emissions a…

Dai, C, Pollitt, MG

This study uses triangulated institutional analysis (policy archaeology, cognitive mapping, quantitative validation) of 346 documents and 22 expert interviews to examine the integration of China's national carbon market (CN-ETS) with local …

Lai Nam Tuan

This study analyzes the effectiveness of Emission Trading Systems (ETS) in reducing CO2 emissions across 11 Asian countries using a high-dimensional fixed effects regression. Results show that ETS effectiveness is highly contingent on count…

Wang, Baixue, Quan, Yifei, Duan, Maosheng

This study provides the first comprehensive ex-post evaluation of China's national ETS after three compliance periods, based on a nationwide survey. It examines allowance allocation, trading behavior, emissions accounting, and reduction act…

Kohlscheen, Emanuel, Moessner, Richhild, Takats, Elod

Using dynamic panel regressions on 121 countries, this study finds that higher carbon taxes and ETS prices significantly reduce CO2 emissions. A $10/ton increase in carbon tax reduces per capita emissions by 1.3% in the short run and 4.6% i…

José Antônio Puppim de Oliveira, Peter Wanke, Jorge Antunes +1

This study proposes a Two-Dimensional Fuzzy-Monte Carlo (2DFMC) framework to address uncertainty and vagueness in Scope 3 emissions data. By integrating Monte Carlo simulations with Type-2 Fuzzy Sets and testing on Brazilian GHG Protocol da…

Tianyi Ren

This paper examines how AI-powered carbon footprint tracking can reshape green investment decision-making by delivering near-real-time, high-resolution estimates of Scope 1-3 emissions, especially Scope 3. It synthesizes methods combining N…

Manjeevan Seera, Ravichandran K. Subramaniam, Shyamala Dhoraisingam Samuel

This study uses machine learning to analyze how collaboration with government agencies affects ESG performance and carbon penalties among Fortune 500 firms. It finds that Scope 3 emissions dominate carbon footprints and that active governme…