I.Reminders Understanding the concept of a „carbon price“ requires some background on the theory. A. Theoretical reminders In his book „The Economics of Welfare„, published in 1920, Arthur Pigou analyses non-optimal market situations. Introducing the concept of externality, he demonstrates that these can be compensated for by the introduction of [...]

Fundamental credit risk analysis typically relies on the analysis of the industry & business position along with the financial risk assessment. Many MCS may however be confronted with difficulties repatriating the cash owned by their foreign subsidiaries.  This article highlights how Qivalio considers these risks from a fundamental credit risk [...]

Electricity production and usage is a daily subject in the press in relation to the reduction of CO2 emissions. The objective of this article is to present the French electricity production system and capacity in FY20, with a perspective of their evolution since 2012, detailing the different types of electricity [...]

Le 22 Octobre 2021 les trois ESAs (European Supervisory Authorities – EBA, EIOPA, ESMA) ont publié la tant attendue version finale des Regulatory Technical Standards (RTS) du Règlement SFDR (Sustainable Finance Disclosure Regulation). Les RTS sont les actes délégués préparés par les ESAs qui précisent et développent les normes techniques [...]

In 2020, US oil & gas industry has started to feel the heat in their books. The climate change is no more reduced to an extra financial issue. It has a significant financial materiality. The sector is threatened by a double value slas : reserves write offs of reserves and litigations. [...]