Central Asian economies, particularly Kazakhstan and Uzbekistan, are pursuing increasingly ambitious goals for renewable energy. Apart from China - an established player in the market - it has increasingly been Gulf countries that have been implementing respective projects, particularly Saudi...

We build a general equilibrium model to study how climate transition risks affect energy prices and the valuations of different firms in the energy sector. We consider two types of fossil fuel firms: incumbents that have developed oil reserves they can extract today or tomorrow, and new entrants...