Faculty & Research
Faculty & Research
20
Results
- 2024
- Working Paper
Climate Solutions, Transition Risk, and Stock Returns
By: Shirley Lu, Edward J. Riedl, Simon Xu and George Serafeim
| Using large language models to measure firms' climate solution products and services, we find that high-climate solution firms exhibit lower stock returns and higher market valuation multiples. Their stock prices respond positively to events signaling increased demand... |
- 2024
- Working Paper
Catalysts for Climate Solutions: Corporate Responses to Venture Capital Financing of Climate-tech Startups
By: Shirley Lu, George Serafeim and Simon Xu
| We study whether incumbent firms increase their product focus on climate solutions in response to venture capital (VC) financing of climate-tech startups. Using large language models to measure a firm's focus on climate solutions, we find that incumbents in similar... |
- June 2024
- Teaching Material
Vehicle Lifecycle Emissions Calculator
| This Vehicle Lifecycle Emissions Calculator calculates the greenhouse gas emissions over the lifespan of internal combustion engine (ICEs) vehicles, battery electric vehicles (BEVs), and plug-in hybrid electric vehicles (PHEV), including those associated with their... |
- May 2024
- Teaching Material
Harvard University and Urban Mining Industries: Decarbonizing the Supply Chain - Student Version
By: Shirley Lu and Robert S. Kaplan
- May 2024
- Teaching Material
Harvard University and Urban Mining Industries: Decarbonizing the Supply Chain - Instructor Version
By: Shirley Lu and Robert Kaplan
- 23 Apr 2024
- In Practice
Getting to Net Zero: The Climate Standards and Ecosystem the World Needs Now
by Rachel Layne
| What can companies and regulators do as climate predictions grow grimmer? They should measure impact, strengthen environmental institutions, and look to cities to lead, say Robert Kaplan, Shirley Lu, and Rosabeth Moss Kanter. |
- April 2024
- Teaching Material
Harvard University and Urban Mining Industries: Decarbonizing the Supply Chain
By: Shirley Lu and Robert S. Kaplan
| Teaching Note for HBS Case No. 123-076. |
- 27 Feb 2024
- Cold Call Podcast
How Could Harvard Decarbonize Its Supply Chain?
Re: Robert S. Kaplan & Shirley Lu
| Harvard University aims to be fossil-fuel neutral by 2026 and totally free of fossil fuels by 2050. As part of this goal, the university is trying to decarbonize its supply chain and considers replacing cement with a low-carbon substitute called Pozzotive®, made with... |
- February 2024 (Revised February 2024)
- Case
CLSA: Integrating ESG in Stock Valuation
By: Shirley Lu, Aaron Yoon and Billy Chan
| In 2023, a senior financial analyst at the Hong Kong-based stock brokerage firm CLSA was surprised to see that, based on his calculations, the financial impact from climate risks on a major Indian cement manufacturing company’s projected earnings could be massive.... |
- 2024
- Communications Earth & Environment
Financial Constraints and Short-term Planning are Linked to Flood Risk Adaptation Gaps in U.S. cities
By: Shirley Lu and Anya Nakhmurina
| Adaptation is critical in reducing the inevitable impact of climate change. Here we study cities’ adaptation to elevated flood risk by introducing a linguistic measure of adaptation extracted from financial disclosures of 431 US cities over 2013–2020. While cities with... |
- 17 Jan 2024
- Research & Ideas
Are Companies Getting Away with 'Cheap Talk' on Climate Goals?
by Tim Gray
| Many companies set emissions targets with great fanfare—and never meet them, says research by Shirley Lu and colleagues. But what if investors held businesses accountable for achieving their climate plans? |