Institut Louis Bachelier’s Post

👏👏👏 [#AcademicResearch #Prize] We are pleased to announce that the Italian Society of Accounting and Business Administration (SIDREA) has awarded EDHEC Business School Professor Gianfranco Gianfrate, and co-authors Marco Ghitti, Florencio Lopez-de-Silanes, and Marco Spinelli, the Commission on Internationalization Project Prize for the ‘Best Scientific Article Published in an International Journal in 2023’ for their article “What’s in a shade? The Market Relevance of green bonds’ external reviews", published in The British Accounting Review. This article explores the financial advantages of #greenbonds, highlighting investors' willingness to pay a premium for independently certified green bonds, and the critical role of reliable #sustainability credentials in today's financial markets. 💬 “Green bonds have grown exponentially, but investors are now wondering how ‘green’ they really are,” says Gianfranco Gianfrate. More about the award and Gianfranco's research on the market impact of green bonds can be found here 👉 https://lnkd.in/d5WRXwem #ProudlyEDHEC #MakeAnImpact #ClimateFinance #AStepForward

Read this interesting interview with our Chairman, Professor Alexander Wagner, about the Initiative in Sustainable Finance: https://lnkd.in/eAbZFUye

Over the last year, our nature economy experts have worked with University of Oxford, University of Reading and the National Institute of Economic and Social Research (NIESR), in a Green Finance Institute led-project working to assess – for the first time – the UK’s material exposure to nature-related risk, both domestically and through international supply chains. The UNEP-WCMC team has been involved in using the ENCORE tool – co-developed by United Nations Environment Programme Finance Initiative (UNEP FI) and Global Canopy – to calculate the dependency of the UK’s banks and insurers on ecosystems services, as well as analysing their indirect and spatial exposure to nature-related risk. Ahead of the final analysis report – due for launch in April 2024 – today sees the launch of an interim update on its background and methodological building blocks. Read more here: https://lnkd.in/dj863aZv

CALL FOR INTERVIEW PARTICIPANTS - CLIMATE FINANCE RESEARCH Nature-based Solutions (NbS) are key in addressing the climate crisis, but they are dramatically underfunded. My team and I are currently working on a consultancy project for The International Institute for Industrial Environmental Economics (IIIEE) - Lund University - Lund University in collaboration with the Climate Finance Unit at the United Nations Environment Programme Finance Initiative (UNEP FI) aimed at improving the current state of private financing instruments for NbS. To do this we need insights from practitioners to answer: - What are the most relevant financial instruments used today? - What are the less-known innovative financing solutions used (we are looking for case studies) - How to increase the liquidity in NbS projects? - How to overcome the barriers keeping institutional finance actors away. Specifically, we want to interview impact investors, sustainable fund managers, NBS project managers, and bankers specializing in impact investment. If this is you or if you know someone, please reach out on LinkedIn. Sharing this post would also greatly help us! Aninda A H. Dimiter Stoev Luiz Bonvini #ClimateFinance #NatureBasedSolutions #ImpactInvestment

🌱 Green and digital transitions: how to find the right policy mix to secure competitiveness? ESM Chief Economist Rolf Strauch spoke at the Annual Conference on EU-US Competitiveness jointly organized by Columbia | SIPA's Center on Global Economy and Governance, the European Investment Bank (EIB), Société Générale and SUERF - The European Money & Finance Forum about how the EU can boost its productivity and economic growth while remaining resilient. Joining fellow EU speakers Debora Revoltella, Boris Vujcic Governor, and Isabel Vansteenkiste, he specifically discussed: 💶 SINGLE MARKET: further integration, notably in the fields of energy and finance, will create a more efficient and secure energy supply and promote a favourable environment for investment. 📝 ECONOMIC GOVERNANCE FRAMEWORK: fiscal sustainability and buffers are an essential prerequisite for countries to be able to provide the needed support during transitory periods. 🏛️ EU FINANCIAL ARCHITECTURE: the twin transition calls for massive financing, both public and private. Efficiently using existing resources and a clearer future policy course are important first steps to take in this direction. Watch the event: https://ow.ly/srre50Rsf4C #ESMeuro

Dear Colleagues, We would like to invite you to the 18th E3 meeting scheduled on March 1st, 2024, at 3PM(Brazilian time), 7PM (Geneva & CET time). Ines Mesek and I are the coordinators of the E3 (Études sur les Économies Émergentes / Studies on Emerging Economies), a group linked to the University of Geneva (UNIGE), Switzerland, and the Federal University of Minas Gerais (UFMG), Brazil, under the supervision of Professor Dr. Makane Moïse Mbengue and Professor Dr. Roberto Luiz Silva. E3 is designed to promote academic debate among researchers, students and professors interested in the topic of emerging economies and their new position as rule-makers in the international legal order. The meeting will be 45' long, in English, presented by Dr. Thiago Almeida. His topic will be: Emerging Economies and Climate Finance. He will analyze the following paper: Gasparini Matteo and Tufano Peter, The Evolving Academic Field of Climate Finance (January 31, 2023). Available at SSRN: https://lnkd.in/d8qQFeXJ.  1. Opening remarks 2. Presentation by Dr. Almeida, debating (20’) a. The concept of climate finance: the evolving necessity to comprehend climate change under the implications and risks in the financial market b. The academic debate is still concentrate on Europe and US, how can emerging economies contribute to the theme? 3. Debate and final remarks Please find the paper here attached. If you know researchers or students who would like to join us, feel free to contact me. Kind regards,  Ines Mesek & Thiago Almeida

🌳𝐄𝐮𝐫𝐨𝐩𝐞𝐚𝐧 𝐂𝐥𝐢𝐦𝐚𝐭𝐞 𝐁𝐨𝐧𝐝 📝On March 12, we had the privilege of having Professor Marco Pagano (University of Naples, CEPR, EIEF) who presented his new working paper titled: “A European Climate Bond”. This research was coauthored with Irene Monasterolo (USE), Antonia Pacelli (Toulouse School of Economics) and Carmine Russo (University of Naples). 🌱The authors propose the joint issuance of EU climate bonds to fill the EU climate investment gap. These bonds would be issued by the European Stability Mechanism and funded by the revenues of greenhouse gas (GHG) emission allowances. This financing mechanism would necessitate the extension of the Emissions Trading System to all sectors. Importantly, access to the resulting funds would be conditional on countries’ performance on climate investing. 🌍EU Climate Bonds would offer significant financial advantages, serving the growing demand for EU-backed assets that are safe, liquid, and environmentally friendly. Moreover, these bonds would form the backbone of an integrated EU capital market, and provide resources for the EU to counter competition from other global players. They would also ensure market neutrality in open market operations and collateral policy while supporting the objective of decarbonization, and thus contribute to the greening of monetary policy. Lastly, these bonds may help mitigate inefficient equilibria featuring low climate investment, weak growth and low fiscal capacity. 🙏We would like to thank Professor Pagano and his coauthors for their contribution to the development of EU climate investment and to efforts in moving forward with sustainable finance.  The working paper is available from SSRN: https://lnkd.in/dR9ARUfP #Finance #Research #usefinance #uufinance #seminar #utrechtschoolofeconomics #EUClimateBonds #ClimateFinance #SustainableFinance Utrecht University School of Economics

🌟 Exciting News ! 🌟 FDL is thrilled to announce that Sima Kammourieh Petrov has joined our team as the 🌏 Executive Director for Climate. Jointly with Martin Kessler, and under Ishac Diwan's intellectual leadership, Sima will help us advance FDL’s mission to improve the fairness of the international financial system and architecture. 🌐 Drawing on her extensive expertise in public policy and private finance, as well as her experiences at E3G, French Ministries, and BNP Paribas, she will play a pivotal role in crafting an ambitious research program on transition finance. This will not only expand on existing initiatives like the ☘️ Expert Review on Debt, Climate, and Nature, but also pave the way for new endeavours, with a specific focus on the role of financial regulation in accelerating the transition in developing countries.   🚀 With Sima on board, we are excited to progress and expand, and look forward to seeing what the future holds!    🙏 A big thank you to all our supporters, funders, partners, and brilliant team for trusting us over the last three years and making this possible. We have exciting times ahead! #FinanceForDevelopment #ClimateFinance #EconomicResearch #DevelopmentFinance #InternationalDevelopment #SovereignDebt Bill & Melinda Gates Foundation, Adil Ababou, The Rockefeller Foundation, Open Society Foundations, Direction générale du Trésor, Paris School of Economics, CEPREMAP, OECD - OCDE, African Center for Economic Transformation (ACET), Economic Research Forum, South African Institute of International Affairs (SAIIA), CONICET, Centre for the Study of the Economies of Africa (CSEA), Consortium for Development Policy Research, United Nations Economic Commission for Africa, ECLAC, Research and Information System for Developing Countries (RIS), Development Reimagined, Hamouda Chekir, Vera Songwe, Philippe Le Houérou, Hafez Ghanem, Simon Cueva, Francois Bourguignon, Maï-Linh Florentin, Brendan Harnoys-Vannier, Clemens Graf von Luckner, Yoan Raïh, Antoine Gaudin, Emanuele Properzi, Simon Azuélos, Simon Desmet

Did you know that for every £1 of public money invested, the Met Office’s return on investment is £18.80?    Today marks the publication of the independent report by London Economics Ltd, evaluating the value we bring to the UK over the next 10 years. The research outlines where £56bn of value is being driven, with elements such as value to the public, climate adaptation and mitigation, and different business sectors all playing a contributing factor.    Find out more: https://lnkd.in/eh42ar9S   Global impact. #WhenItMatters    Department for Science, Innovation and Technology

This independant economic value study really helps to put into context the contribution that the Met Office makes to the UK economy and the cases studies across government, industry and the public bring to life where we really help you make better decisions to stay safe and thrive.