This paper explores the quality of Scope 3 emission data in terms of divergence and composition and the performance of machine learning models in predicting Scope 3 emissions. We do so using the Scope 3 emission datasets of three of the largest data providers (Refinitiv Eikon, and ISS). We find...

This study examines the financial risks posed by energy and environmental markets and how these risks are addressed by current regulatory regimes and legislation. This is undertaken using a legislative analysis of the financial regulation of energy and environmental markets, drawing on ‘grey'...

This paper uses inventory data from financial accounts to explore whether companies involved in the physical oil market were speculating in the run-up to 2008. Using quarterly inventory data over the period 1990Q4 to 2012Q1 and a sample of 15 of the largest listed oil companies in the world, we...

Research on electricity futures markets has to date not explored the role that market liquidity may play in determining risk premia. Further, no detailed empirical examination of both liquidity and risk premia in the New Zealand electricity futures market are discernible. Using data from October...

The New Zealand Emissions Trading Scheme (NZ ETS) is an intensity-based system and the second oldest national ETS. It is unique in that it is highly international (with unlimited use of Kyoto allowances) and it incorporates forestry. We provide the first empirical analysis of the determinants of...

We examine climate transition risk in New Zealand (NZ) equities given that NZ's greenhouse gas (GHG) emissions are dominated by agricultural emissions and that carbon pricing has been in place since 2008. Only around half of NZX50 companies disclose emissions and that disclosure is driven by,...

We examine the impact of liberalization, energy efficiency, renewable energy, and security of supply legislations on the risk-return profiles of European energy utilities over the period 1996 to 2013. Results show that, after controlling for equity market and commodity risk factors, the EU...

The paper makes an original contribution to the electricity market literature by using an international sample to explore the efficiency of electricity futures across different markets. We focus on the efficiency of five futures markets (Australia, Germany, New Zealand, Nord Pool and the PJM...

We explore the stock market and option implied volatility response of the oil and gas industry to four policy events associated with the Paris Agreement and the election of Donald Trump. Our results show that the signing of the Paris Agreement had a large negative impact for the Oil and Gas...

This paper uses machine learning to improve the prediction of corporate emissions so that financial regulators and investors can make better decisions about climate transition risk. The need for predictions arises because only a subset of global companies report emissions. The novelty is to use...