원문정보
초록
영어
We investigate about climate change, which is now emerging as a hot potato, and realize its seriousness. To respond to climate change, carbon reduction strategies are vitally important. We examine the effect of carbon reduction on ESG score improvement and show the importance of ESG management by using the concept of green spread which is a financial environmental cleanliness measure. An aim of this study is to predict numerically the impact of carbon reduction on national cleanliness and economic benefits using the methodology of CO2 emission-backed securities. In order to get attention from many people to the reduction of GHG gas, we compute risk premiums of the securities and did securitization of CO2 emissions. Then, issuing the securities will stimulate investors about the national CO2 reduction activities. Also, we expect that this study gives countries an incentive to reduce their CO2 emissions and prepare for climate change.
목차
Introduction
The History of Global Climate Change Negotiations
The Effects of Climate Change
Global Warming
Rising Sea Level
Extreme Weather Conditions
CO2 Emissions Modeling and ESG Target
CO2 Emissions Modeling
The Target of ESG Management
Designing and Pricing the Securities
Numerical Examples
The Limitations of Using ESG Scores
Conclusion
Acknowledgement
References