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This study contributes to the emerging literature on connections between climate change and economic inequality by investigating the relationship between domestic wealth inequality and consumption-based carbon emissions for 26 high-income countries from 2000 to 2010. Results of the two-way fixed effects longitudinal models indicate that the effect of wealth inequality, measured as the wealth share of the top decile, on per capita emissions in high-income countries is consistently positive and relatively stable over the time period. This finding is consistent with political economy theories arguing that the concentration of political and economic power that accompanies the concentration of wealth plays an important role in increasing environmental degradation and preventing proenvironmental actions.

This paper examines a sample of 167 publicly listed enterprises covered by eight regional pilot emissions trading markets in China from 2013 to 2023. Our empirical findings indicate that the carbon price returns negatively affect the stock returns of enterprises covered by the regional markets, with the Shenzhen and Guangdong regions suffering a more pronounced effect. Furthermore, high-carbon-intensity enterprises are more susceptible to this negative impact than their low-carbon-intensity counterparts. The robustness of the negative relationship is evident even after the national emissions trading market opened on July 16, 2021. This study provides insightful guidance for policymakers to regulate emissions trading markets.