Monthly Archives: May 2017

CO2 content of electricity losses

Published in Energy Policy – Vol 104 – May 2017. We study the importance in terms of CO2 emissions the extra amount of energy necessary to cover losses. With this purpose we use Spanish market and system data with hourly frequency from 2011 to 2013. Our results show that indeed electricity losses significantly explain CO2 emissions, with a higher CO2 emissions rate when covering losses than the average rate of the system.

The effect of countries’ ESG ratings on their sovereign borrowing costs

The article examines whether the extra-financial performance of countries on environmental, social and governance (ESG) factors matters for sovereign bonds markets. Using a panel regression model over a data set with 23 OECD countries from 2007 to 2012, it shows that ESG ratings significantly decrease government bond spreads.