NO.PZ202210140100000105
问题如下：
Yorkton’s ESG integration approach is likely to impact equity valuation by:
选项：
A.increasing revenues.
raising the discount rate
reducing operating costs.
解释：
B is correct. Titian faces significant long-term environmental risk factors. The imposition of stricter regulation on greenhouse gas emissions in the developing countries will result in stranded assets, as much of Titian steel capacity becomes obsolete and not economically viable. Shifting away from low-cost coal usage will likely result in higher operating costs, and declining oil and natural gas demand will result in lower revenues for stainless steel. Thus Yorkton should raise the discount rate for Titian to account for the higher environmental risk.
A is incorrect because Titian’s revenues are likely to decline as a result of the projected fall in demand for oil and natural gas. As a result, oil and natural gas companies will cut their exploration and drilling budgets and reduce their purchases of stainless steel.
C is incorrect since operating costs are likely to rise as Titian shifts away from using low-cost coal to more expensive energy sources.
因降低低成本能源品的消耗，从而提高折现率，对这个表述不理解
