Order Transition Research Articles

Direct Magnetic Evidence, Functionalization, and Low-Temperature Magneto-Electron Transport in Liquid-Phase Exfoliated FePS3.

Magnetism and the existence of magnetic order in a material is determined by its dimensionality. In this regard, the recent emergence of magnetic layered van der Waals (vdW) materials provides a wide playground to explore the exotic magnetism arising in the two-dimensional (2D) limit. The magnetism of 2D flakes, especially antiferromagnetic ones, however, cannot be easily probed by conventional magnetometry techniques, being often replaced by indirect methods like Raman spectroscopy. Here, we make use of an alternative approach to provide direct magnetic evidence of few-layer vdW materials, including antiferromagnets. We take advantage of a surfactant-free, liquid-phase exfoliation (LPE) method to obtain thousands of few-layer FePS3 flakes that can be quenched in a solvent and measured in a conventional SQUID magnetometer. We show a direct magnetic evidence of the antiferromagnetic transition in FePS3 few-layer flakes, concomitant with a clear reduction of the Néel temperature with the flake thickness, in contrast with previous Raman reports. The quality of the LPE FePS3 flakes allows the study of electron transport down to cryogenic temperatures. The significant through-flake conductance is sensitive to the antiferromagnetic order transition. Besides, an additional rich spectra of electron transport excitations, including secondary magnetic transitions and potentially magnon-phonon hybrid states, appear at low temperatures. Finally, we show that the LPE is additionally a good starting point for the mass covalent functionalization of 2D magnetic materials with functional molecules. This technique is extensible to any vdW magnetic family.

Twin stars as probes of the nuclear equation of state: Effects of rotation through the PSR J0952-0607 pulsar and constraints via the tidal deformability from the GW170817 event

In agreement with the constantly increasing gravitational wave events, new aspects of the internal structure of compact stars can be considered. A scenario in which a first order transition takes place inside these stars is of particular interest as it can lead, under conditions, to a third gravitationally stable branch (besides white dwarfs and neutron stars), the twin stars. The new branch yields stars with the same mass as normal compact stars but quite different radii. In the present work, we focus on hybrid stars undergone a hadron to quark phase transition near their core and how this new stable configuration arises. Emphasis is to be given on the aspects of the phase transition and its parametrization in two different ways, namely with Maxwell and Gibbs construction. We systematically study the gravitational mass, the radius, and the tidal deformability, and we compare them with the predictions of the recent observation by LIGO/VIRGO collaboration, the GW170817 event, along with the mass and radius limits, suggesting possible robust constraints. Moreover, we extent the study in order to include rotation effects on the twin stars configurations. The recent discovery of the fast rotating supermassive pulsar PSR J0952-0607 triggered the effort to constrain the equation of state and moreover to examine possible predictions related to the phase transition in dense nuclear matter. We pay special attention to relate the PSR J0952-0607 pulsar properties with the twin stars predictions and mainly to explore the possibility that the existence of such a massive object would rule out the existence of twin stars. Finally, we discuss the constraints on the radius and mass of the recently observed compact object within the supernova remnant HESS J1731-347. The estimations implies that this object is either the lightest neutron star known, or a star with a more exotic equation of state.

Structure ordering and glass transition in size-asymmetric ternary mixtures of hard spheres: Variation from fragile to strong glasses.

We investigate the structure and activated dynamics of a binary mixture of colloidal particles dispersed in a solvent of much smaller-sized particles. The solvent degrees of freedom are traced out from the grand partition function of the colloid-solvent mixture which reduces the system from ternary to effective binary mixture of colloidal particles. In the effective binary mixture colloidal particles interact via effective potential that consists of bare potential plus the solvent-induced interaction. Expressions for the effective potentials and pair correlation functions are derived. We used the result of pair correlation functions to determine the number of particles in a cooperatively reorganizing cluster (CRC) in which localized particles form "long-lived" nonchemical bonds with the central particle. For an event of relaxation to take place these bonds have to reorganize irreversibly, the energy involved in the processes is the effective activation energy of relaxation. Results are reported for hard sphere colloidal particles dispersed in a solvent of hard sphere particles. Our results show that the concentration of solvent can be used as a control parameter to fine-tune the microscopic structural ordering and the size of CRC that governs the glassy dynamics. We show that a small variation in the concentration of solvent creates a bigger change in the kinetic fragility which highlights a wide variation in behavior, ranging from fragile to strong glasses. We conclude that the CRC which is determined from the static pair correlation function and the fluctuations embedded in the system is probably the sole player in the physics of glass transition.

Emergent XY* transition driven by symmetry fractionalization and anyon condensation

Anyons in a topologically ordered phase can carry fractional quantum numbers with respect to the symmetry group of the considered system, one example being the fractional charge of the quasiparticles and quasiholes in the fractional quantum Hall effect. When such symmetry-fractionalized anyons condense, the resulting phase must spontaneously break the symmetry and display a local order parameter. In this paper, we study the phase diagram and anyon condensation transitions of a \mathbb{Z}_2ℤ2 topological order perturbed by Ising interactions in the Toric Code. The interplay between the global (``onsite’’) Ising (\mathbb{Z}_2ℤ2) symmetry and the lattice space group symmetries results in a non-trivial symmetry fractionalization class for the anyons, and is shown to lead to two characteristically different confined, symmetry-broken phases. To understand the anyon condensation transitions, we use the recently introduced critical torus energy spectrum technique to identify a line of emergent 2+1D XY* transitions ending at a fine-tuned (Ising^22)* critical point. We provide numerical evidence for the occurrence of two symmetry breaking patterns predicted by the specific symmetry fractionalization class of the condensed anyons in the explored phase diagram. In combination with large-scale quantum Monte Carlo simulations we measure unusually large critical exponents \etaη for the scaling of the correlation function at the continuous anyon condensation transitions, and we further identify lines of (weakly) first order transitions in the phase diagram. As an important additional result, we discuss the phase diagram of a resulting 2+1D Ashkin-Teller model, where we demonstrate that torus spectroscopy is capable of identifying emergent XY/O(2) critical behaviour, thereby solving some longstanding open questions in the domain of the 3D Ashkin-Teller models. To establish the generality of our results, we propose a field theoretical description capturing the transition from a \mathbb{Z}_2ℤ2 topological order to either \mathbb{Z}_2ℤ2 symmetry broken phase, which is in excellent agreement with the numerical results.

Supercooling of the A phase of 3He

Because of the extreme purity, lack of disorder, and complex order parameter, the first-order superfluid 3He A–B transition is the leading model system for first order transitions in the early universe. Here we report on the path dependence of the supercooling of the A phase over a wide range of pressures below 29.3 bar at nearly zero magnetic field. The A phase can be cooled significantly below the thermodynamic A–B transition temperature. While the extent of supercooling is highly reproducible, it depends strongly upon the cooling trajectory: The metastability of the A phase is enhanced by transiting through regions where the A phase is more stable. We provide evidence that some of the additional supercooling is due to the elimination of B phase nucleation precursors formed upon passage through the superfluid transition. A greater understanding of the physics is essential before 3He can be exploited to model transitions in the early universe.

Dimensional crossover of charge order in IrTe2 with strong interlayer coupling

Tuning dimensionality in van der Waals materials with finite interlayer coupling has introduced various electronic phase transitions by conventional mechanical exfoliation. Particularly when the electronic order is tied to the modulation of the interlayer coupling, such dimensional tunability has a strong impact on its stability and properties, which has rarely been investigated experimentally. Here, we demonstrate a dimensional crossover of charge order in IrTe$_2$ from genuine two- to quasi-three-dimension using low-temperature scanning tunneling microscopy and spectroscopy. Employing atomically thin IrTe$_2$ flakes ranging from monolayer to multilayer, we observe a gradual phase transition of charge order and exponential decay of Coulomb gap with increasing thickness. Moreover, we find a suppression of the density of states emerging at an abrupt lateral interface between two- and three-dimension. These findings are attributed to the interplay between the strongly coupled layers and substrate-driven perturbation, which can provide a new insight into the dimensional crossover of strongly coupled layered materials with hidden electronic phases.

How to promote the energy transition? —An analysis based on the size and technology effect in new energy industry

This paper attempts to explore the dynamic relationship between new energy industry development and energy structure transformation in China. Based on the real option model and stochastic frontier analysis (SFA), the development scale and technical level of the new energy industry are measured at the provincial level. The eastern region is in the lead, but there has been a certain degree of technological efficiency retreat, especially in Liaoning. The new energy industry in the central region has developed rapidly due to the deepening of the industrialization process. With the aid of PVAR model, impulse response function and variance decomposition, the results show that there exists a bidirectional dynamic relationship between the new energy industry and energy structure. In other words, the development of the new energy industry and the energy transition can be mutually predicted. Specifically, technology effect has a positive continuous and dramatic influence on the transformation of energy structure. In turn, the energy transition first elicits a response to size effects, but has a long-term impact on technology effects. This implies that the new energy industry will usher in scale expansion at the early stage of energy transition. It is worth noting that scale expansion will not always accelerate the transition process. At that time, technology played a long-term and central role. Therefore, reasonable expansion of new energy industry scale and efforts to develop new energy technology are important measures to ensure the orderly energy transition.

Exchange bias effect and inhomogeneous magnetism in 6H Ba3CoFeRuO9: Role of structural site disorder

Structural, magnetic, electrical and thermal investigations on ternary barium ruthenate Ba3CoFeRuO9 (BCFRO) reveal the role of the two different octahedral B-site in creating locally varying competing antiferromagnetic and ferromagnetic interactions. BCFRO forms in 6H hexagonal structure in the P63/mmc space group. Neutron diffraction and specific heat capacity measurements affirmed the absence of any long-range ordering and structural transition in the compound. DC thermomagnetic studies evidences spin glass magnetism with Tg ∼ 50 K. A large exchange bias (EB) field of 3.48 kOe is obtained at 3 K under a cooling field of 50 kOe. Careful analysis indicates, EB in our system stems from inhomogeneous magnetism owing to spatially varying chemical composition. Competing ferromagnetic and antiferromagnetic phases giving rise to spin glass behaviour is the manifestation of site disorder induced by mixed valences of magnetic ions. The exchange bias training effect in our system follows spin relaxation model of rotatable and frozen spins which are exchange coupled at the interface. Strong electron localisation occurs by virtue of the specific 6H structure with corner shared octahedral 2a site and face shared octahedral 4f site. The electrical and thermal transport in BCFRO follows Efros-Shklovskii variable range hopping (ES VRH) model below 150 K. The high resistivity of BCFRO at low temperatures is also reflected in the low thermal conductivity and huge Seebeck coefficient.

Structural and Luminescence Properties of Cu(I)X-Quinoxaline under High Pressure (X = Br, I)

A study of high-pressure single-crystal X-ray diffraction and luminescence experiments together with ab initio simulations based on the density functional theory has been performed for two isomorphous copper(I) halide compounds with the empirical formula [C8H6Cu2X2N2] (X = Br, I) up to 4.62(4) and 7.00(4) GPa for X-ray diffraction and 6.3(4) and 11.6(4) GPa for luminescence, respectively. An exhaustive study of compressibility has been completed by means of determination of the isothermal equations of state and structural changes with pressure at room temperature, giving bulk moduli of K0 = 14.4(5) GPa and K′0 = 7.7(6) for the bromide compound and K0 = 13.0(2) GPa and K′0 = 7.4(2) for the iodide compound. Both cases exhibited a phase transition of second order around 3.3 GPa that was also detected in luminescence experiments under the same high-pressure conditions, wherein redshifts of the emission bands with increasing pressure were observed due to shortening of the Cu–Cu distances. Additionally, ab initio studies were carried out which confirmed the results obtained experimentally, although unfortunately, the phase transition was not predicted.

Влияние немагнитного беспорядка на фазовые переходы первого рода

Using the Monte Carlo method, weakly dilute magnetic systems described by two-dimensional five-component Potts model, which in the pure state undergoes a phase transition first order. Numerical studies have revealed that an insignificant quenched disorder, realized in the form of non-magnetic impurities, can change the order of phase transition in magnetic systems described by the two-dimensional five-component Potts model on a square lattice, for which a phase transition of the first order is observed in a homogeneous state. It is shown that such a phase change the transition is due to the fact that non-magnetic disorder prevents the coexistence of local phases characteristic of a phase transition of the first order at T = Tl .

Application of the private-public partnership model in energy sector

The best international practices in implementing investment energy-efficient projects show that the most effective form of implementing industrial, infrastructure and socially important projects and programs is the public-private partnership (PPP). The purpose of the study is to analyze the current situation and prospects for using hydrogen fuel in the process of energy transition in order to solve environmental problems and overcome the energy crisis within the framework of public-private partnership (PPP). The study is novel in that the prospects for the development of hydrogen energy are predicted on the basis of the international and Russian practices; an approach to forming the Dynamic model of sustainable economic development: Smart Green Technology application within the framework of public-private partnership (PPP); considered the main provisions of the Development Concept Hydrogen technologies in the Republic of Tatarstan, approved by the order of the Cabinet of Ministers of the Republic of Tatarstan in 2023; an approach to the formation of matrix for energy efficiency management which is the goal of further research.The hypothesis about the effectiveness of public-private partnership as an instrument of green energy in Russia within the framework of developing direct conversion technologies and modernizing the energy sector when implementing national projects was confirmed in the course of the study.

Business and Global Capitalism: Continuities and Change

It is common for historians to focus their attention on turning points in the past. The risk with this is that it overstates how dramatic change was and the extent of stasis and stability in between those turning points, at its most extreme form in notions of punctuated equilibriums. We need to remember the importance of continuities across those turning points and transitions in order to understand the roots of change and have a more nuanced picture of the nature of change. This is as valid for the relationship between firms, governments, and global governance frameworks as it is for any other historical subject.

Non-homogeneous plastic deformation of amorphous metallic alloys under the action of a quasi-static mechanical load

A hypothesis is formulated and substantiated that quasi-static deformation in an amorphous metal alloy is a complex relaxation multi-stage process, which is a hierarchical sequence of interrelated structural transitions of the first order ordered in time. These nonequilibrium processes sequentially proceed at different scale space-time levels, starting from the lowest level --- a cluster of atoms of the first coordination sphere with a relaxation time taueta, then the middle level - a nanocluster of atoms of the fifth coordination sphere with a relaxation time tauφ, spatial scale of 10 nm and relaxation time tau, and tau>>tauφ>>taueta. They are accompanied by transformations of various types of potential energy of atoms (elastic, inelastic, plastic deformation, ZST) into each other. A mechanism and a model of a nonequilibrium transition from an elastic mechanical state to a state with shear transformation zones, a mechanism and a model of localized plastic deformation in an amorphous metal alloy are constructed. In the interval of non-uniqueness, in response to a locally introduced perturbation, a traveling autowave arises, which transfers the slip band from the inelastic deformation regime to the plastic deformation regime. Model parameters are estimated and important physical properties of plastic deformation are calculated. Keywords: Amorphous metal alloys, mechanical load, plastic deformation, nonequilibrium structural transition, synergetic model, kinetic equations, autowave.

Фазовые переходы в моноклинном ZrO-=SUB=-2-=/SUB=-

Zirconia ZrO2 is one of the most important modern materials, but its use faces the problem of complex polymorphism. It is generally accepted that, under normal conditions, it exists in the monoclinic form P21/c, (No. 14), which undergoes an extended martensitic transformation into the tetragonal form P42/nmc (No. 137) when heated above 1000 ºС. However, the group-theoretic analysis forbids a direct transition between these space groups and requires at least two intermediate forms. The experiment carried out in this work using structure-sensitive methods (dilatometry and electrical conductivity) indeed revealed the existence of singular points on the temperature dependences of expansion and conductivity in the temperature range of 350±20 ºС and 730±20 ºС. This agrees with the literature data, which demonstrate singular points on the temperature dependences of the ZrO2 monoclinic lattice parameters. According to the dilatometry data, these transitions are phase transitions of the second order, which correlates with the obtained Raman data (measurements at temperatures up to 900 ºС in the range 60 – 900 cm-1), showing that the local structure changes slightly, therefore, the transitions occur within the framework of the monoclinic syngony.

Phase transitions in monoclinic ZrO-=SUB=-2-=/SUB=-

Zirconia ZrO 2 is one of the most important modern materials, but its use faces the problem of complex polymorphism. It is generally accepted that, under normal conditions, it exists in the monoclinic form P2_1/c (N 14), which undergoes an extended martensitic transformation into the tetragonal form P4_2/nmc (N 137) when heated above 1000 o C. However, the group-theoretic analysis forbids a direct transition between these space groups and requires at least two intermediate forms. The experiment carried out in this work using structure-sensitive methods (dilatometry and electrical conductivity) indeed revealed the existence of singular points on the temperature dependences of expansion and conductivity in the temperature range of 350±20 and 730±20 o C. This agrees with the literature data, which demonstrate singular points on the temperature dependences of the ZrO 2 monoclinic lattice parameters. According to the dilatometry data, these transitions are phase transitions of the second order, which correlates with the obtained Raman data (measurements at temperatures up to 900 o C in the range 60-900 cm -1 ), showing that the local structure changes slightly, therefore, the transitions occur within the framework of the monoclinic syngony. Keywords: ZrO 2 , monoclinic phases, phase transitions, dilatometry, electrical conductivity, Raman spectroscopy.

Cross-diffusion-induced transitions between Turing patterns in reaction-diffusion systems

Cross-diffusion is one of the most important factors affecting the formation and transition of Turing patterns in reaction diffusion systems. In this paper, cross-diffusion is introduced into a reaction diffusion Brusselator model to investigate the effects of the directivity and density-dependence of cross-diffusion on Turing pattern transition. Turing space is obtained by the standard linear stability analysis, and the amplitude equations are derived based on weakly nonlinear method, by which Turing pattern selection can be determined theoretically. It is found that the degree of deviation from the primary Turing bifurcation point plays an important role in determining the process of pattern selection in the Turing region. As the deviation from onset is increased, the system exhibits a series of pattern transitions from homogenous state to honeycomb hexagonal pattern, to stripe pattern, and then to hexagonal spot pattern. In the case of one-way cross-diffusion, the direction of cross-diffusion determines the order of Turing pattern transition. The cross-diffusion from the inhibitor to the activator enhances the Turing mode and drives the system far away from the primary bifurcation point, resulting in the forward order of Turing pattern transition. On the contrary, the cross-diffusion from the activator to the inhibitor suppresses the Turing mode and forces the pattern transition in a reverse order. In the case of two-way cross-diffusion, the cross-diffusion effect from inhibitors to activators is stronger than that from activators to inhibitors with the same diffusion coefficient. Essentially, the cross-diffusion coefficient is dependent on not only the local concentration of species itself, but also the concentrations of other species due to their interaction. It is found that concentration dependent cross diffusion also affects the transformation direction of Turing pattern. When the diffusion coefficient <inline-formula><tex-math id="M6">\begin{document}$ {D_{uv}} $\end{document}</tex-math><alternatives><graphic xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="19-20230333_M6.jpg"/><graphic xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="19-20230333_M6.png"/></alternatives></inline-formula> is linearly dependent on the concentration of retarders, the positive transformation of the Turing pattern is induced with the increase of the concentration linear adjustment parameter <inline-formula><tex-math id="M7">\begin{document}$ \beta $\end{document}</tex-math><alternatives><graphic xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="19-20230333_M7.jpg"/><graphic xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="19-20230333_M7.png"/></alternatives></inline-formula>. On the contrary, when the diffusion coefficient <inline-formula><tex-math id="M8">\begin{document}$ {D_{vu}} $\end{document}</tex-math><alternatives><graphic xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="19-20230333_M8.jpg"/><graphic xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="19-20230333_M8.png"/></alternatives></inline-formula> is linearly dependent on the concentration of active particles, the reverse transformation of the Turing pattern is induced. The numerical simulation results are consistent with the theoretical analysis.

Order of statistical learning depends on perceptive uncertainty.

Statistical learning (SL) is an innate mechanism by which the brain automatically encodes the n-th order transition probability (TP) of a sequence and grasps the uncertainty of the TP distribution. Through SL, the brain predicts a subsequent event (e n+1 ) based on the preceding events (e n ) that have a length of "n". It is now known that uncertainty modulates prediction in top-down processing by the human predictive brain. However, the manner in which the human brain modulates the order of SL strategies based on the degree of uncertainty remains an open question. The present study examined how uncertainty modulates the neural effects of SL and whether differences in uncertainty alter the order of SL strategies. It used auditory sequences in which the uncertainty of sequential information is manipulated based on the conditional entropy. Three sequences with different TP ratios of 90:10, 80:20, and 67:33 were prepared as low-, intermediate, and high-uncertainty sequences, respectively (conditional entropy: 0.47, 0.72, and 0.92 bit, respectively). Neural responses were recorded when the participants listened to the three sequences. The results showed that stimuli with lower TPs elicited a stronger neural response than those with higher TPs, as demonstrated by a number of previous studies. Furthermore, we found that participants adopted higher-order SL strategies in the high uncertainty sequence. These results may indicate that the human brain has an ability to flexibly alter the order based on the uncertainty. This uncertainty may be an important factor that determines the order of SL strategies. Particularly, considering that a higher-order SL strategy mathematically allows the reduction of uncertainty in information, we assumed that the brain may take higher-order SL strategies when encountering high uncertain information in order to reduce the uncertainty. The present study may shed new light on understanding individual differences in SL performance across different uncertain situations.

Financing the Orderly Transition to a Low Carbon Economy in the EU: the Regulatory Framework for the Banking Channel

Financing the Orderly Transition to a Low Carbon Economy in the EU: the Regulatory Framework for the Banking Channel

Order-order transitions in poly(N-octadecyl acrylamide-co-hydroxyethyl acrylamide) statistical copolymer films.

This study demonstrates that a simple statistical copolymer can form self-assembled lamellae, whose structures depend on both the comonomer composition and the annealing temperature. Statistical copolymers of octadecyl acrylamide and hydroxyethyl acrylamide [p(ODA/HEAm)] were prepared via free-radical copolymerization, and their thermal properties were studied by differential scanning calorimetry. Thin films of p(ODA/HEAm) were prepared via spin-coating, and their structures were analyzed using X-ray diffraction. It was found that copolymers with HEAm contents between 28 and 50% formed self-assembled lamellae upon annealing at a temperature ∼10 °C above the glass-transition temperature. The self-assembled form was found to possess a "side-chain-mixed" lamellar structure, in which the ODA and HEAm side chains are oriented perpendicular to the lamellar plane composed of the polymer main chain. Interestingly, a copolymer with a HEAm content between 36 and 50% transformed from the side-chain-mixed lamellar structure to generate a "side-chain-segregated" lamellar structure upon annealing at a significantly higher temperature (∼50 °C above Tg). In this structure, the ODA and HEAm side chains were found to be oriented in opposite directions but perpendicular to the lamellar plane. The packing of the side chains in the lamellar structures was studied using Fourier-transform infrared spectroscopy. It was concluded that the structures of the self-assembled lamellae are determined by the strain forces generated during self-assembly, and by the segregation forces existing between the comonomers.

Low-carbon transition risks for India’s financial system

As the low-carbon transition accelerates, loans to and investments in carbon-intensive assets, firms and sectors are at risk of not generating the anticipated returns, with implications for individual financial institutions as well as financial markets more broadly. However, research on this topic has largely been focused on high- and upper-middle income economies to date. In this paper, we explore the salience of this issue in India – one of the world’s largest emitters and economies – by asking: (1) how extensive is financial-sector exposure to transition risks? And: (2) are finance professionals and financial institutions taking sufficient action to manage those transition risks? Our findings reveal that India’s financial sector is much more heavily exposed to low-carbon transition risks than standard borrowing classifications might suggest. For example, our granular assessment of individual loans and bonds finds that three-fifths of lending to the ‘mining’ sector is for oil and gas extraction, while one-fifth of ‘manufacturing’ debt is for petroleum refining and related industries. We also find that electricity production – by far the largest source of emissions – accounts for 5.2% of outstanding credit, but that only 17.5% of this lending is to pureplay renewables. Yet our survey of India’s largest financial institutions suggests that there have been limited efforts to identify, measure or manage low-carbon transition risks. Fewer than half of the 154 finance professionals surveyed were familiar with environmental issues including climate change mitigation and adaption, greenhouse gas emissions or transition risks. Only four of the ten major financial institutions surveyed collect information on ESG risks, and these firms do not systematically incorporate that data into business continuity planning, internal capital adequacy assessment processes, credit risk assessments, enterprise risk management frameworks or loan product pricing. Given extensive financial-sector exposure to low-carbon transition risks coupled with the absence of bottom-up action to manage those risks, our findings suggest that financiers, regulators and policymakers in emerging and developing economies should be acting swiftly to ensure an orderly transition to net-zero.