F2· Preview
Market Structure and Competition — Externalities
Externalities are an investment theme hiding in plain sight. Negative externalities like pollution and systemic banking risk invite regulation that burdens incumbents and rewards clean-tech challengers, while Pigouvian taxes on carbon directly reshape energy valuations. ESG integration prices in externality risk before regulation forces it. This module teaches you to position a portfolio for the energy transition by spotting which companies internalize their costs and which still externalize them.
⏱ 16 minModule F2.9
// What you'll learn
- Externalities are an investment theme hiding in plain sight.
- Negative externalities like pollution and systemic banking risk invite regulation that burdens incumbents and rewards clean-tech challengers, while Pigouvian taxes on carbon directly reshape energy valuations.
- ESG integration prices in externality risk before regulation forces it.
- This module teaches you to position a portfolio for the energy transition by spotting which companies internalize their costs and which still externalize them.
// Full access
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