BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//CREST - ECPv5.1.3//NONSGML v1.0//EN
CALSCALE:GREGORIAN
METHOD:PUBLISH
X-WR-CALNAME:CREST
X-ORIGINAL-URL:https://crest.science
X-WR-CALDESC:Events for CREST
BEGIN:VTIMEZONE
TZID:Europe/Helsinki
BEGIN:DAYLIGHT
TZOFFSETFROM:+0200
TZOFFSETTO:+0300
TZNAME:EEST
DTSTART:20260329T010000
END:DAYLIGHT
BEGIN:STANDARD
TZOFFSETFROM:+0300
TZOFFSETTO:+0200
TZNAME:EET
DTSTART:20261025T010000
END:STANDARD
END:VTIMEZONE
BEGIN:VEVENT
DTSTART;TZID=Europe/Helsinki:20260122T110000
DTEND;TZID=Europe/Helsinki:20260122T120000
DTSTAMP:20260709T224950
CREATED:20251208T104510Z
LAST-MODIFIED:20251209T064218Z
UID:18628-1769079600-1769083200@crest.science
SUMMARY:Lionel MELIN (EDHEC) "Quantifying Climate Risk Premia"
DESCRIPTION:Quantitative Sustainable Economics and Finance \nTime: 11.00 am\nDate:22th of January 202\nRoom 3049 \nLionel MELIN (EDHEC) “Quantifying Climate Risk Premia” \nAbstract : What are the quantified risks that climate change poses for financial markets? The physics of climate change are well understood\, with their uncertainty. Empirical studies provide estimates of the economic damage from rising global temperatures and the costs of curbing such a rise. We build on this basis a precisely calibrated dual framework: linking a climate module with a long-run-risks workhorse asset-pricing model. It incorporates both physical damage and transition cost channels\, while capturing the economic activity impact on temperatures. Our framework delivers closed-form solutions for climate-affected and time-dependent risk-free rate\, equity risk premia and price-dividends ratios. We show that chronic climate risks alone\, away from tipping points\, result in an increase of the equity risk premium by almost 20% in a 3°C world. Enough to anticipate a likely market repricing. \nOrganizers:  Patricia Crifo\, Emmanuel Gobet\, Peter Tankov\, Gauthier Vermandel\, and Olivier David Zerbib \nSponsors:\nCREST-CMAP \n
URL:https://crest.science/event/lionel-melin-edhec-quantifying-climate-risk-premia/
CATEGORIES:Finance-Insurance,Quantitative Sustainable Economics and Finance,Seminars
ATTACH;FMTTYPE=:
END:VEVENT
END:VCALENDAR