BACHELIER FINANCE SOCIETY

🏞️ Special Issue “Climate Change and Insurance” – Call for papers 🔍The European Actuarial Journal is hosting a Special Issue “Climate Change and Insurance” (deadline 31 December 2024). ❓The themes of the call include, but are not restricted to ✅ Climate modelling ✅ The role of actuaries in handling the climate change ✅ Catastrophe risks and climate change Impact of climate change on mortality ✅ Pricing of climate change risks ✅ Sustainable finance 🌞Don’t miss this opportunity! 🔗For details go to: https://lnkd.in/eyvkqczJ #CimateChange #Finance #BachelierFinanceSociety #AppliedMathematics

⏪ Throwback to the 12th BFS World Congress was held at the Getulio Vargas Foundation in Rio de Janeiro, Brazil, in July 2024. 👥 There were almost 290 participants from all over the world who attended the conference, which consisted of 9 plenary sessions, more than 60 thematic sessions, and about 250 talks. 🌈The topics represented the whole spectrum of the field of mathematical finance, including Market Microstructure, Machine Learning, Environmental Finance, Volatility Modeling, Actuarial Mathematics and Mean-Field Games. 🌎The plenary speakers were: Mike Ludkovski (University of California, Santa Barbara, USA) - Louis Bachelier Lecture🌟 Francesca Biagini (University of Munich, Germany) Agostino Capponi (Columbia University, USA) Christa Cuchiero  (University of Vienna, Austria) Min Dai (The Hong Kong Polytechnic University, China) Pierre Henry-Labordere Henry-Labordère (Qube Research and Technologies) Johannes Muhle-Karbe (Imperial College London, UK) Emanuela Rosazza Gianin (Università degli Studi di Milano-Bicocca, Italy) Peter TANKOV (ENSAE, France) #MathematicalFinance #quantitativefinance #quants #math #finance #research #conference #Rio #Brazil

🌍 ONLINE BFS WORLD SEMINAR: CARBON NEUTRALITY We are pleased to invite you to our next online seminar featuring Sara Biagini (LUISS University), who will be discussing carbon neutrality and net-zero in compliance markets. 🕐 Thursday, 26 September, 7 pm (GMT +2) 🔗 Link to registration:
https://lnkd.in/eShA7gZp Abstract: When addressing climate risk mitigation, a primary objective is achieving climate neutrality. We analyze first the impact of carbon neutrality policies on a system of polluting companies that are regulated within an ETS carbon market. The companies are mandated to cut emissions and have the option to trade carbon allowances for compliance purposes. They may also be allocated additional allowances as subsidies from the regulatory authority to assist in fulfilling compliance. For each firm, the key variable is the imbalance between their cumulative Business As Usual emissions and the allocation they may receive, which must be covered by the regulated maturity. 
For a given subsidy scheme, a unique, closed-form equilibrium is reached. The resulting allowances price admits a neat expression as a convex combination of each company’s marginal costs, each calculated based on their predicted emissions imbalance. In turn, each company’s cost-minimizing abatement and trade strategies admit an intuitive decomposition in terms of their emissions imbalance and the equilibrium price. The model is quite flexible and allows exploration of the effect of various policies, according to the additional priorities of the regulator. The more ambitious net-zero goal is obtained as a special case. Companies cannot benefit from carbon allowances and they must effectively neutralize all their carbon footprint. The cost minimization problem is now at the individual company level, and we present a closed-form solution for optimal reduction. All results are illustrated with numerical examples.

The BFS World Congress has started Yesterday, we opened the 2024 BFS World Congress in Rio de Janeiro, Brazil. We thank the local organisers for organising this wonderful event and our thanks also go to all the participants who have come here.

Reminder: Early Bird Registrations ends 30 April 2024 The early bird rates for registration to the 12th World Congress of the Bachelier Finance Society ends on Tuesday, 30 April 2024. If you haven't registered, now is the time: https://lnkd.in/dee-qY3H

Call for papers We are pleased to inform you that the deadline for abstract submission for the BFS World Congress has been extended to next Monday, February 5th. This provides an additional opportunity for contributors to finalize and submit their abstracts. We look forward to receiving your submissions by the revised deadline. See details: https://lnkd.in/dJjrXbuT