NO.PZ2024021802000093
问题如下：
A steel-producing company reports higher carbon intensity compared to its peers. An analyst is most likely to:
选项：
A.increase the value of company's corporate debt.
B.increase the cost of debt for the company's new project financing.
C.assign a higher fair value price-to-earnings (P/E) ratio to the company.
解释：
A. Incorrect because high carbon intensity (proved by scope 1 and 2 carbon intensity being both absolute and relative to sector) leads to lower value of corporate debt.
B. Correct because high carbon intensity (proved by scope 1 and 2 carbon intensity being both absolute and relative to sector) leads to increased cost of debt for new project financing.
C. Incorrect because weak ESG performance leads to lowering the price-to-earnings ratio compared to peers. For example, an investor might assign a “fair value P/E” of 16x to a strong ESG company versus 14x for an average ESG company and 12x for a weak ESG company.
老师，为什么debt应该下降，cost of debt要上升？
