The Lazard Climate Center was formed to provide rigorous, data-driven insights on the financial effects of climate change and the energy transition on companies and markets. The initiative seeks to fill a crucial gap in climate research, which until now has tended to focus on national or sector-level trends as opposed to the impact on specific companies.
The Lazard Climate Center’s research, which is the most comprehensive analysis to date and includes more than 16,000 global companies from 2016 through 2020, finds a significant relationship between carbon dioxide emissions and a company’s price-to-earnings ratio.
In addition, the research is the first to find that other greenhouse gases, such as methane and hydrofluorocarbons, can have an impact on valuation multiples.
For more information, please contact Zachery Halem, Director of the Lazard Climate Center.