The 2024 E-axes Forum has recognized two outstanding research papers with Honorable Mentions in its research prize program. ENVR Prof. Keith CHAN and his PhD student Wilson WAN received an Honorable Mention for their paper on net zero commitments, while ENVR Prof. Quentin MOREAU was honored for his work on systemic climate risk.

Prof. Chan and Wilson's paper, "The Double-Edged Sword of Firm's Net Zero Commitment on the Carbon Risk Premium," examined how environmental pledges affect companies' cost of equity. Their analysis of 1,100 listed companies revealed that net zero commitments can either increase or decrease a firm's carbon risk premium, depending on their transition readiness.

Prof. Moreau's paper "Systemic Climate Risk," coauthored with Tristan JOURDE, introduced a novel market-based framework for analyzing climate risks in the financial sector. Using data from European financial institutions from 2005 to 2022, they demonstrated that transition risk, rather than physical risk, has an increasing influence on systemic risk in the financial sector.

In recognition of their valuable insights for investors, regulators, and financial institutions navigating the challenges of climate transition, the research teams were invited to present their findings in the Young Scholars webinar series and contribute to the organization's widely-read Policy Briefs series.

Founded in March 2021, the E-axes Forum is an independent nonprofit, nonpartisan research organization focused on macroeconomic policies and sustainability. It is dedicated to aggregating knowledge from around the globe to catalyze the engagement of economists and decision makers who are working on policies toward achieving a sustainable economy.

Congratulations to both teams!