Replication package for the paper "Fiscal Capacity, Not Climate Exposure: Decomposing Global Fossil-Fuel Underpricing and Its Equity Burden". It reproduces every figure, table and reported estimate in the manuscript and its online appendix. The package contains the processed country-year panels covering 174 IMF-covered economies from 2015 to 2022, the extraction code that builds the IMF externality components and the fiscal-capacity measures from their source workbooks, and a single analysis script. To reproduce, run Rscript code/analysis_ep.R from the package root. Tested on R 4.6.0. All underlying data are public; files that are third-party material and cannot be redistributed here are documented in data/DOWNLOAD.md with their sources.