The Great Carbon Arbitrage

Tobias Adrian (International Monetary Fund), Moritz Baer (University of Oxford), Patrick Bolton (Columbia Business School and Imperial College) and Alissa M. Kleinnijenhuis (Stanford University and University of Oxford) One of the goals of the 26th Convention of Parties (COP26) held in 2021 was to reach a global agreement to phase-out coal. COP26 noted that “coal […]