Conference Event:
September 9, 2022
Event Location:
Virtual
Organizer(s):
Columbia University, the Office of Financial Research and the Federal Reserve Bank of Richmond
The Office of Financial Research is hosting on Sept. 9th a virtual conference on climate-related risks and financial stability. The event will be open to the public. The registration link can be found below.
Climate financial risk is an area of increasing concern. However, our understanding of the financial system’s exposure to climate-sensitive assets remains limited. This is also the case regarding the effects of regulatory changes stemming from policies that confront climate-related issues.
The conference will convene experts on climate finance issues to present research and hold panel discussions to provide insights into a broad spectrum of climate finance topics, including macro-prudential issues, asset valuations, credit markets, stress testing, and financial system externalities.
Further Information:
REGISTRATION: Registration is free. Registration link: https://ofr-treasury.zoomgov.com/webinar/register/WN_o6P-0J5kRAqj79cExJN4dg
CONFERENCE FORMAT: The event will be hosted virtually via Zoom Conferences. Access details will be provided once registration is completed.
Click additional information, please visit the conference website: https://www.financialresearch.gov/conferences/2022/05/31/climate-implications-for-financial-stability-conference/
For questions, please contact OFRClimateConference@ofr.treasury.gov
CONFERENCE PROGRAM:
Friday September 9, 2022 (All times EST)
10:00 – 10:15 am Welcome and Opening Remarks
James Martin (Acting Director, Office of Financial Research)
Nellie Liang (Under Secretary of the Treasury for Domestic Finance, U.S. Department of Treasury)10:15 -10:45 am Paper Session: Sustainability in a Risky World
Authors: John Campbell (Harvard University), Ian Martin (London School of Economics)
Discussant: Antony Millner (University of California, Santa Barbara)10:45 – 11:15 am Paper Session: The Great Carbon Arbitrage
Authors: Tobias Adrian (International Monetary Fund), Patrick Bolton (Columbia University), Alissa Kleinnijenhuis (Stanford University)
Discussant: Andreas Lehnert (Federal Reserve Board of Governors)11:15 -11:45 am Paper Session: Economic Impact of Climate Change
Authors: Cláudia Custódio (Imperial College London), Miguel Ferreira (Nova University), Emilia Garcia-Appendini (University of Zurich), Adrian Lam (Imperial College London)
Discussant: Sumudu Watugala (Cornell University)12:00 – 1:00 pm Panel Discussion: Financial Stability and Macroprudential Policy Issues in Climate Risks
Moderator: Tobias Adrian (International Monetary Fund)
Distinguished Panelists:
Chris Faint (Bank of England)
Paul Hiebert (European Central Bank)
Monika Piazessi (Stanford University)
Jeremy Stein (Harvard University)1:15 – 1:45 pm Paper Session: Corporate Taxation and Carbon Emissions
Authors: Luigi Iovino (Bocconi University), Thorsten Martin (Bocconi University), Julien Sauvagnat (Bocconi University)
Discussant: John Graham (Duke University)1:45 – 2:15 pm Paper Session: Carbon Emissions and the Bank-Lending Channel
Authors: Marcin Kacperczyk (Imperial College London) and José-Luis Peydró (Imperial College London)
Discussant: Justin Murfin (Cornell University)2:15 – 2:45 pm Paper Session: Climate Stress Testing
Authors: Robert Engle (New York University), Hyeyoon Jung (Federal Reserve Bank of New York), Richard Berner (New York University)
Discussant: Mathijs van Dijk (Erasmus University)3:00 – 4:00 pm Panel Discussion: Climate Risk Measurement and Financial Stability Challenges
Moderator: Andrew Karolyi (Cornell University)
Distinguished Panelists:
Sabine Mauderer (Bundesbank)
Laura Starks (University of Texas, Austin)
Kevin Stiroh (Federal Reserve Board of Governors)
Johannes Stroebel (New York University)4:00 pm Closing Remarks
Link CfP & Conference: OFR Climate Implications for Financial Stability Conference