@article{ART003309236},
author={PARK SHINAE and Lee Dong Jin},
title={The Impact of Climate Policy Uncertainty on Corporate Carbon Intensity},
journal={Analyses & Alternatives},
issn={2508-822X},
year={2026},
volume={10},
number={1},
pages={315-346},
doi={10.22931/aanda.2026.10.1.012}
TY - JOUR
AU - PARK SHINAE
AU - Lee Dong Jin
TI - The Impact of Climate Policy Uncertainty on Corporate Carbon Intensity
JO - Analyses & Alternatives
PY - 2026
VL - 10
IS - 1
PB - Korea Consensus Institute
SP - 315
EP - 346
SN - 2508-822X
AB - This paper estimates the impact of Climate Policy Uncertainty (CPU) on corporate carbon intensity using KOSPI 200 listed firms. A CPU index was constructed using domestic news articles, and empirical analysis was conducted with a fixed-effects model on 119 firms with confirmed greenhouse gas emissions data from 2011 to 2024. The results show that CPU generally reduces firms carbon intensity, with a more pronounced effect in manufacturing firms. For non-manufacturing firms, a significant effect was observed only during 2020–2024, when CPU exhibited a clear upward trend. Among manufacturing firms, the carbon-intensity-reducing effect of CPU was relatively attenuated for high-carbon emitters compared with low-carbon emitters. This suggests process-related constraints on low-carbon transitions through production method changes and facility replacements for high-carbon emitters. This study empirically demonstrates the heterogeneous effects of CPU on carbon intensity by industry and firm characteristics, extending prior research. Policy-wise, it implies the need to enhance policy predictability alongside fiscal and technological support to mitigate uncertainty and induce substantive carbon reduction investments.
KW - Climate Policy Uncertainty;Carbon Intensity;Climate Change Response;Low-Carbon Transition;Fixed Effects Panel Analysis
DO - 10.22931/aanda.2026.10.1.012
ER -
PARK SHINAE and Lee Dong Jin. (2026). The Impact of Climate Policy Uncertainty on Corporate Carbon Intensity. Analyses & Alternatives, 10(1), 315-346.
PARK SHINAE and Lee Dong Jin. 2026, "The Impact of Climate Policy Uncertainty on Corporate Carbon Intensity", Analyses & Alternatives, vol.10, no.1 pp.315-346. Available from: doi:10.22931/aanda.2026.10.1.012
PARK SHINAE, Lee Dong Jin "The Impact of Climate Policy Uncertainty on Corporate Carbon Intensity" Analyses & Alternatives 10.1 pp.315-346 (2026) : 315.
PARK SHINAE, Lee Dong Jin. The Impact of Climate Policy Uncertainty on Corporate Carbon Intensity. 2026; 10(1), 315-346. Available from: doi:10.22931/aanda.2026.10.1.012
PARK SHINAE and Lee Dong Jin. "The Impact of Climate Policy Uncertainty on Corporate Carbon Intensity" Analyses & Alternatives 10, no.1 (2026) : 315-346.doi: 10.22931/aanda.2026.10.1.012
PARK SHINAE; Lee Dong Jin. The Impact of Climate Policy Uncertainty on Corporate Carbon Intensity. Analyses & Alternatives, 10(1), 315-346. doi: 10.22931/aanda.2026.10.1.012
PARK SHINAE; Lee Dong Jin. The Impact of Climate Policy Uncertainty on Corporate Carbon Intensity. Analyses & Alternatives. 2026; 10(1) 315-346. doi: 10.22931/aanda.2026.10.1.012
PARK SHINAE, Lee Dong Jin. The Impact of Climate Policy Uncertainty on Corporate Carbon Intensity. 2026; 10(1), 315-346. Available from: doi:10.22931/aanda.2026.10.1.012
PARK SHINAE and Lee Dong Jin. "The Impact of Climate Policy Uncertainty on Corporate Carbon Intensity" Analyses & Alternatives 10, no.1 (2026) : 315-346.doi: 10.22931/aanda.2026.10.1.012
