Climate Change Concerns and the Performance of Green vs. Brown Stocks

The authors thank the editor George Serafeim, an associate editor, and two anonymous referees for numerous helpful insights and Elsa Allman, Laurent Barras, Tolga Cenesizoglu, Dana Kiku, Hannes Mohrschladt, Jérôme Taillard, and participants at the 2020 International National Bank of Belgium conference on “Climate Change: Economic Impact and Challenges for Central Banks and the Financial System,” the 2021 International Conference of the French Finance Association, the 2021 International Conference on Computational and Financial Econometrics, the 2021 European Conference of the Econom[etr]ics Community (EC2), and the 2021 European Financial Management Association Annual Meeting, the 2022 Annual QES European Quant and Macro Investment conference, and seminar participants at Quantact, GERAD, and the Universities of Lausanne, Liège, Sherbrooke, Sichuan, and Ghent for comments.