We study the heterogeneous pass-through of carbon pricing on investment across firms. Using balance sheet data of 1 ….2 million European firms and identified carbon policy shocks, we find that higher carbon prices reduce investment, on average …. However, less carbon-intensive firms and sectors reduce their investment relatively more compared to otherwise similar firms …

Cash holdings at the onset of a financial crisis are a key determinant of investment by SMEs not only during the crisis … persistent and growing investment gap. The amplification effect was present for SMEs with both volatile and stable cash holdings …

subsidies to reasonable levels. By sequentially reducing cross-subsidies this could be achieved without harming the … thereby help to reduce investment needs to an economically viable level. While preferential loans (e.g., from international … donors) will be a welcome, though temporal, supplement to financing investment in the Belarusian electricity sector …

for adaptation, but also shifting broader -- public and private -- financial flows and investment away from potentially …