Hedging climate risks with green assets

Utilizing two novel measures of transition and physical climate risks obtained from textual analysis, we examine the hedging benefits of various green assets and popular precious metals against climate uncertainty. We find that green bonds stand out from the rest of the assets in our sample, includi...

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Bibliographic Details
Published in:Economics letters 2022-03, Vol.212, p.110312, Article 110312
Main Authors: Cepni, Oguzhan, Demirer, Riza, Rognone, Lavinia
Format: Article
Language:English
Subjects:
Assets
Asymmetric DCC-GARCH
Benefits
Bonds
climate
Climate risk
gold
Green bonds
Hedges
Hedging
Investments
Metals
Portfolio investments
Portfolios
Precious metals
Risk
Social responsibility
Text analysis
Textual analysis
Uncertainty
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