Norway is a signatory to the Paris Climate Accords, an agreement that aims to prevent global temperatures from rising higher than 1.5 degrees. Although a small nation, Norway is the world’s 14th biggest oil-producing country and the 8th biggest producer of natural gas. According to experts,...

Turkey has recently attracted attention as a result of its rapid economic growth. As a result, energy demand has increased. On the other hand, the energy consumed in Turkey is mainly derived from non-renewable sources. In this context, this study investigates the long-term and short-term effects...

As the atmospheric concentration of CO2 emissions has grown to record levels, calls have grown for governments to make steeper emissions cuts, requiring to reduce an economy's use of fossil energy dramatically. Meanwhile, in the U.S., fossil energy still met 80 percent of the total energy demand...

Note: This is paper has been peer-reviewed and was published in March 2022 at the SAIMM Journal, available at https://saimm.evlink4.net/servlet/link/403814/455655/39372714/5448861....Oil, coal, and gas account for ~80% of global primary energy, but only a portion of total airborne CO2eq (~40% at...

We examine how divesting from fossil fuel stocks, as announced by several large institutional investors, affects the systematic risk exposures of an equity portfolio. We find that fossil fuel stocks exhibit a highly significant positive exposure towards changes in the oil price. Consistent with...

Mechanisms to incentivize divestment strategies, such as divestment schedules, are an important component of carbon reduction strategies. We find that the risk/return profile of divested S&P 500 portfolios is typically indifferent to divestment schedules, but instantaneous divestment benefits...

Mechanisms to develop divestment strategies are an essential component of carbon reduction strategies. The rate at which investors should divest has become a critical aspect of effective divestment, which has shifted from the periphery to a movement of over a thousand major investors, totaling...