Watson Institute for International and Public Affairs

The Market is Valuing Climate Risk All Wrong (written by Jeff Colgan)

Jeff Colgan in Global Policy Journal, "At the moment, property values and stock prices generally seem unaffected by the prospect of climate change, which generates a comforting illusion that our current trajectory is sustainable. But the idea that that markets rapidly update prices with all available information – an idea for which Eugene Fama won a Nobel Prize in 2013 – relies on a strict set of assumptions. In a world of climate change, those assumptions bear re-examination."

July 6, 2018 Global Policy Journal