Session 1 (9:00 to 10:30): Socially Responsible Investing and Having Impact
Chair: Ulf von Lilienfeld Toal (ͷ)
09.00 – 09.30: Does Socially Responsible Investing Change Firm Behavior?, Davidson Heath (ͷversity of Utah), Daniele Macciochi (ͷversity of Miami), Roni Michaeli (Hong Kong ͷversity) and Matthew Ringgenberg (ͷversity of Utah)
Discussant: Melissa Porras Prado (Nova School of Business and Economics)
09.30 – 10.00: The Pace of Change: Socially Responsible Investing in Private Markets, Deeksha Gupta (Carnegie Mellon), Alexandr Kopytov (ͷversity of Hong Kong) and Jan Starmans (Stockholm School of Economics)
Discussant: Denis Gromb (HEC Paris)
10.00 – 10.30: Impact Investing and Venture Capital Industry: Experimental Evidence, Ye Zhang (Stockholm School of Economics)
Discussant: Daniel Metzger (Rotterdam School of Management)
10.30 – 11.00 Coffee Break
Session 2 (11:00 to 12:30): Climate Change and Credit Markets
Chair: Laurent Barras (ͷ)
11.00 – 11.30: There is No Planet B” but for Banks “There are Countries B to Z”: Domestic Climate Policy and Cross-Border Bank Lending, Emanuela Benincasa (ͷversity of Zurich), Gazi Kabas (ͷversity of Zurich) and Steven Ongena (ͷversity of Zurich)
Discussant: Yingjie Qi (Copenhagen Business School)
11.30 – 12.00: Asset Overhang and Technological Change, Hans Degryse (KU Leuven), Tarik Roukny (KU Leuven) and Joris Tielens (National Bank of Belgium)
Discussant: Nataliya Gerasimova (Norwegian School of Economics)
12.00 – 12.30: The rising tide lifts some interest rates: climate change, natural disasters, and loan pricing, Ricardo Correa (Federal Reserve Board), Ai He (ͷversity of South Carolina), Christoph Herpfer (Emory ͷversity) and Ugur Lel (ͷversity of Georgia)
Discussant: Loriana Pelizzon (ͷversity of Frankfurt)
12:30 – 14:00 Lunch Break
Session 3 (14:00 to 15:00): Asset Pricing Implications
Chair: Julien Pénasse (ͷ)
14.00 – 14.30: Sustainable Investing and Public Goods Provision, Ilaria Piatti (Queen Mary ͷversity of London), Joel Shapiro (ͷversity of Oxford) and Xuan Wang (VU Amsterdam)
Discussant: Magdalena Rola-Janicka (Tilburg ͷversity)
14.30 – 15.00: The Economics of Sustainability Linked Bonds, Tony Berrada (ͷversity of Geneva), Leonie Engelhardt (ͷversity of Geneva), Rajna Gibson (ͷversity of Geneva) and Philipp Krueger (ͷversity of Geneva)
Discussant: Shaojun Zhang (Ohio State ͷversity)
15:00 – 15:15 Coffee Break
Session 4 (15:15 to 16:15): Economics of Climate Change
Chair: Denitsa Stefanova (ͷ)
15.15 – 15.45: Emission caps and investment in green technologies, Bruno Biais (HEC Paris) and Augustin Landier (HEC Paris)
Discussant: Robin Döttling (Erasmus ͷversity)
15.45 – 16.15: How Does Climate Change Affect Firm Sales? Identifying Supply Effects, Claudia Custodio (Imperial College), Miguel Ferreira (Nova School of Business), Emilia Garcia-Appendini (ͷversity of Zurich) and Adrian Lam (Imperial College)
Discussant: Aleksandra Rzeznik (York ͷversity)
16:30-17:00 Tram ride to the Banque de Luxembourg (14 boulevard Royal, 2449 Luxembourg – tram stop: Hamilius)
Keynote Presentations and Panel Discussion (17:15 to 19:00): Climate Change and Asset Management – Banque de Luxembourg Auditorium (14 boulevard Royal, L-2449 Luxembourg)
Chair: Michael Halling (ͷ)
17.15 – 17.20: Welcome by Georges Heinrich, Secretary General at Banque de Luxembourg
17.20 – 17.50: Dissecting Green Returns, Lubos Pastor (ͷversity of Chicago), Keynote Presentation
17.50 – 18.20: Hedging Climate Risk, Stefano Giglio (Yale ͷversity), Keynote Presentation
18.20 – 19.00: Panel Discussion on “Climate Change and Asset Management”
Moderator: Francois Koulischer (ͷ)
Panelists:
- Stefano Giglio (Yale ͷversity)
- Georges Heinrich (Secretary General at Banque de Luxembourg)
- Pierre Lenders (Head of ESG at Capital Fund Management)
- Lubos Pastor (ͷversity of Chicago)