“Frontiers of climate and nature in macroeconomics and finance”

October 24 – 25, 2022 at the Banque de France in Paris

The Banque de France, sustainable macro, the NGFS, and INSPIRE invite you to this conference, taking place in person in Paris on 24-25 October 2022. Online participation will be possible. The conference addresses challenges posed by environmental risks and impacts for finance, monetary policy and financial supervision. You can find the archived call for papers here.

Registrations

Presenters who have submitted an abstract to the conference have been informed about the acceptance of their papers. They will be sent a link to register and provide details on travel and accommodation needs.

There will be a few additional places for an audience without presentations. Please visit the Banque de France website to register.

If you want to be informed once registrations for the non-presenting audience opens, subscribe to our newsletter here.

Conference program

“Frontiers of climate and nature in macroeconomics and finance”

TimeAgendaPlace

Monday, 24 October
08:30 CETRegistration
09:00 – 09:30
Welcome and Opening remarks

Sylvie Goulard, Deputy Governor, Banque de France
Room TBD
09:30 – 10:30
Keynote 1 – Fireside chat

Sir Partha Dasgupta (University of Cambridge) in conversation with Saskia de Vires (DnB/NGFS)
Room TBD
10:30 – 11:00Coffee BreakFoyer
11:00 – 12:00
Paper session I: The role of central banks and the Paris Agreement

Presentation 1: Implications of climate change for central bank roles: A case study of the Bank of England – Monica DiLeo (University of Queensland)
Presentation 2: Ratcheting up Paris – Thomas Stoerk (National Bank of Belgium and LSE) with Humberto Llavador and John Roemer
Room TBD
12:00 – 13:00LunchRestaurant
13:00 – 14:30
Paper session II: Monetary policy and environmental risks

Presentation 1: Macroeconomic Effects of Green “Helicopter” – Money Xiaofei Ma (ESSCA School of Management) with Mohamed Tahar Benkhodja (ESSCA), Vincent Fromentin (Université de Lorraine)     
Presentation 2: Planetary boundaries and the case for interest rate differentiation – Jens van ‘t Klooster (University of Amsterdam)   
Presentation 3: Climate-Related Natural Disasters and Exchange Rate Misalignment in Developing Countries – Thibault Lemaire (Banque de France & Université Paris 1 Panthéon – Sorbonne) 
Room TBD
14:30 – 15:00Coffee BreakFoyer
15:00 – 16:30
Paper Session III: Sovereign bonds and environmental risks

Presentation 1: Climate change exposure and macroeconomic vulnerabilities – Etienne Espagne (AFD) with Guilherme Magacho, Irene de Echer, Michel Simioni      
Presentation 2: Rising temperatures, falling ratings: The effect of climate change on sovereign creditworthiness – Matt Burke (Sheffield Hallam University) with Patrycja Klusak, Matthew Agarwala, Moritz Kraemer and Kamiar Mohaddes   
Presentation 3: First nature loss-adjusted sovereign credit rating – Patrycja Klusak (University of East Anglia & Cambridge University) with Matthew Agarwala, Matt Burke, Moritz Kraemer and Ulrich Volz 
Room TBD
16:30 – 17:30
Paper Session IV: Carbon taxation and the macroeconomy

Presentation 1: Carbon Taxation and Greenflation: Evidence from Europe and Canada – Maximilian Konradt (Graduate Institute Geneva) with Beatrice Weder di Mauro
Presentation 2: Social inequality in the context of a domestic carbon tax: a case study of French households – Raphaël Semet (University of Paris Saclay)

Tuesday, 25 October
09:00 – 10:00
Paper Session V: Nature and sustainability metrics

Presentation 1: Monitoring financial sustainability from space – Luca Taschini (University of Edinburgh Business School) with Ben Filewod   
Presentation 2: Measuring the impact of the Amazon Fund on deforestation reduction in Brazil – Loris André (PSE), Julio Ramos-Tallada, Banque de France
Room TBD
10:00 – 11:30Coffee BreakFoyer
11:30 – 11:45
Paper Session VI: Session 6 – Nature, climate and microfinancial risks

Presentation 1: Who takes the land? Quantifying the use of built-up land by economic activities to assess biodiversity-related transition risks in France – Mathilde Salin (Banque de France and CIRED) with Etienne De l’Estoile (Banque de France, Université Paris 1)   
Presentation 2: Performance and Climate Risk in Microfinance Institutions – Iftekhar Ahmed (University of Otago) with Ivan Diaz-Rainey and Helen Roberts      
Presentation 3: Do Lenders Price the Brown Factor in Car Loans? Evidence from Diesel Cars – Winta Beyene (Universirty of Zurich, Swiss Finance Institute) with Steven Ongena, Matteo Falagiarda and Alessandro Scopelliti
Room TBD
11:45 – 12:30
Keynote 2

Some theory and some evidence on nature based solutions to climate change – Prof Ben Groom (University of Exeter and Grantham Institute)
Room TBD
12:30 – 14:00Lunch BreakTBD
14:00 – 15:30
Paper Session VII: Environmental risks and macroeconomy

Presentation 1: Climate policy uncertainty and firms’ and investors’ behavior – Tobias Kruse (OECD) with Pier Basaglia, Stefano Carattini, Antoine Dechezleprêtre   
Presentation 2: The macroeconomic effects of the insurance climate protection gap – Margherita Giuzio (ECB) with Linda Fache Rousova, Sujit Kapadia, Hradayesh Kumar, Luisa Mazzotta, Miles Parker, Dimitris Zafeiris   
Presentation 3: A systematic review of global scenarios to assess biodiversity-related financial risks – Julie Maurin (AFD) 
Room TBD
15:30 – 16:00Coffee BreakFoyer
16:00 – 17:00
Policy panel – Financial policy at the frontier of climate and nature
Room TBD
17:00Light Apéro