Chui and McDonald (2016)


Chui, Nelson, and Kathryn McDonald.  The Impact of Carbon on Share Price.  Rosenberg Equities, October 2016.

Authors' abstract:  "In this piece, we use Rosenberg Equities’ proprietary valuation framework to infer, from the price of all stocks, the impact of carbon footprint on share price...  The result is a single, implied price of carbon that serves as evidence that carbon is impacting share price, all else equal. Our work ultimately confirms that three sectors – Utilities, Energy, and Materials – are ‘driving’ this result."