Measuring Climate Policy Uncertainty

9 Pages Posted: 18 May 2021

Date Written: May 16, 2021


This study presents a new measure of uncertainty related to climate policy, based on news from major US newspapers. The Climate Policy Uncertainty (CPU) index spikes near important events related to climate policy, such as new emissions legislation, global strikes about climate change and President’s statements about climate policy, among other developments. Our findings suggest that climate policy uncertainty has a strong and negative effect on CO2 emissions.

Keywords: Climate policy uncertainty, CPU index, CO2 emissions

JEL Classification: G12, G18, Q5

Suggested Citation

Gavriilidis, Konstantinos, Measuring Climate Policy Uncertainty (May 16, 2021). Available at SSRN: or

Konstantinos Gavriilidis (Contact Author)

University of Stirling ( email )

Stirling, Scotland FK9 4LA
United Kingdom

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