Vortrag über "Your Carbon Footprint, Including Investments" am 05.06.24 um 16:30

Im Rahmen des Volkswirtschaftlichen Forschungskolloquiums findet am Mittwoch, den 05.06.2024, um 16:30 Uhr s.t,in Raum C 339, Campus I, Gebäude C ein Vortrag mit dem Titel "Your Carbon Footprint, Including Investments" statt. Der Referent ist Prof. Dr. Hendrik Hakenes, Universität Bonn.


Abstract: Carbon footprints measure greenhouse gas emissions for individuals, companies, or countries. Metrics exist for consumption bundles, and other metrics for investment portfolios. Simply summing up both metrics overestimates household impact due to double accounting. Moreover, existing methodologies disregard market responses to reductions in consumption or investment. We add a product market to Heinkel et al (2001) or Pastor et al (2021), thus proposing a parsimonious equilibrium model that attributes the actual carbon impact to investment and consumption decisions with industry-specific weights. Our model establishes a transparent relationship between individual choices and overall emissions, considering demand elasticities and correlations in both product and financial markets. Our metric separates the direct impact of household choices within the industry from a spillover component attributing emission changes to household decisions in other, related industries.