ESG and Of Interest News
IMF Working Paper-Following the Money: Who is Keeping Coal Alive?
November 1, 2024--Summary |
| We find that coal financing is becoming increasingly concentrated, partly in banks with a very high coal exposure. We also find that many coal loans have maturities much shorter than the remaining lifetime of coal assets, thus exposing equity holders of coal assets to the risk of a more difficult loan rollover. An econometric analysis shows that countries with a strong commitment to coal phase-out, fixed in national law for example, receive less coal financing. Using an instrumental variable, we identify this effect as causal. |
The World's Oldest Bond Just Celebrated Its 400th Birthday And Still Pays an 13.64 Euro Annual YieldDecember 16, 2024--On December 10,1624, a Dutch water authority issued a bond to fund repairs for a critical dike breach. Four centuries later,that bond is still alive,making it the oldest bond in the world. This perpetual bond, issued by Hoogheemraadschap Lekdijk Bovendams, continues to pay interest, reminding us of the enduring power of financial innovation. |
State Of Compute: The New Power ParadoxDecember 1, 2024--News broke November 28 that the U.S. government is considering additional curbs on the sale of semiconductor equipment and AI memory chips to China, escalating tensions between the two superpowers. It is a sign of the times. Governments have begun to view AI compute infrastructures, including advanced AI chips, as a geostrategic resource. |
New report showcases opportunities to unlock trade in renewable electricityNovember 15, 2024--A new report published today (15 November) by the World Meteorological Organization and the World Trade Organization points to the role that trade can play to help supply meet demand for electricity from renewable sources. |