Temperature Sensitivity, Mispricing, and Predictable Returns

The authors thank Constantinos Antoniou, Nusret Cakici, Jeroen Derwall, Philipp Krüger, Steven Ongena, Mike Price, Rob Ready, Luc Renneboog, Zacharias Sautner, Mike Simutin, and Yi Tang, Chi-Yang Tsou as well as conference/seminar participants at universities of Bath, Birmingham, Edinburgh, Exeter, Geneva, Global Research Alliance for Sustainable Finance and Investment (GRASFI) Conference (Oxford), Kansas, Leeds, Manchester, Maastricht, Miami, Newcastle, Oxford, Principles for Responsible Investment (PRI) Academic Network Conference (San Francisco), Reading, Strathclyde, Tilburg, and Zurich for helpful comments. All remaining errors and omissions are the authors’ own. Previous versions of the paper circulated under the title “Climate Sensitivity and Predictable Returns.” Declarations of interest: none.