What Do You Think About Climate Finance?
We survey 861 finance academics, professionals, and public sector regulators and policy economists about climate finance topics. They identify regulatory risk as the top climate risk to businesses and investors over the next five years, but they view physical risks as the top risk over the next 30 years. By an overwhelming margin, respondents believe that asset prices underestimate climate risks. We also tabulate opinions about the correlation between growth and climate change; social discount rates appropriate for projects that mitigate the effects of climate change; most influential forces for reducing climate risks; and, most important research topics.
We thank Viral Acharya, Yakov Amihud, Stephen Brown, Shan Ge, Sabrina Howell, Anthony Lynch, and Jonathan Parker for helpful comments. We also thank Laura Hess and Amanda Parker of the NYU Stern Development and Alumni Relations office for providing Stern graduates’ contact information. Georgij Alekseev provided outstanding research assistance. Finally, we are most grateful to 861 anonymous survey respondents. The survey was deemed exempt by NYU IRB-FY2021-5655. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.
Johannes Stroebel & Jeffrey Wurgler, 2021. "What do you think about climate finance?," Journal of Financial Economics, vol 142(2), pages 487-498.