Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
Please note that all times are shown in the time zone of the conference. The current conference time is: 24th Aug 2026, 01:53:49am WEST
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Daily Overview |
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Energy Efficiency and Innovation Location: B132 Session Chair: Eva Franzmeyer, European University Institue | |
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Stalling the Green Transition: Investment under Climate Policy Uncertainty 1: Queen Mary University of London, United Kingdom; 2: University of Manchester How does climate policy uncertainty affect the green transition? Using newspaper-based uncertainty measures and data on 8,000 U.S. listed firms, we show that energy-intensive firms respond to heightened uncertainty by cutting net investment while increasing replacement investment. Because new capital embodies cleaner technologies, this compositional shift raises emissions relative to the counterfactual. A calibrated putty-clay model with vintage capital rationalizes these findings: uncertainty depresses new investment where energy intensity is chosen far more than replacement investment, whose characteristics are fixed. Climate policy uncertainty thus delays the green transition by discouraging the adoption of cleaner capital. | |