Die bestehenden Verteilnetze für Erdgas werden aufgrund der Dekarbonisierung der Wärmeversorgung in großen Teilen stillgelegt werden müssen. Für die Gasnetzbetreiber bestehen dazu weder regulatorische noch wirtschaftliche Anreize. Für die verbleibenden Kund*innen könnte eine verschleppte...

Large parts of the existing natural gas distribution networks must be decommissioned due to the decarbonization of the heat supply. However, there are neither regulatory nor economic incentives for the gas network operators to do so and delaying the decommissioning could be expensive for the...

To reach the goals of the Paris agreement, net carbon emissions must be reduced to zero by the second half of this century. To achieve this, some kind of carbon dioxide removal (CDR) is needed. The paper gives an analysis of the interaction between extraction of fossil energy resources and CDR....

Protecting biodiversity will require the phase-out of harmful production at a large scale. However, some of these stranded investments will be foreign-owned, and can therefore be protected by the more than 2,600 investment treaties that are in force worldwide. These treaties' compensation...

This paper proposes a forward-looking metric of transition risk that relates financial performance and incremental carbon costs at the firm level. To this end, we use a consistent dividend discount framework augmented with emission costs of firms and climate scenario projections from four...