The E-axes Forum on Climate Change, Macroeconomics, and Finance

Brown Capital (Re)Allocation

Olivier Darmouni (Columbia Business School) and Yuqi Zhang (Columbia Business School) examine who owns brown coal power plants, the single largest source of carbon emissions globally. They conduct a new study that shows while ownership by stock market investors is on the decline, private and especially state investors have grown significantly, slowing down the phase-out of fossil fuels.

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