Climate Impact Investing – Research Seminar by Dr. Tiziano De Angelis
Dr. Tiziano De Angelis, a professor in mathematics for economics, finance and insurance at the University of Torino will give a seminar on the topic of the Climate Impact Investing at Corvinus University._20240325154126_0.jpg)
Date: 2024-04-15, Monday, 11:40-13:00
Location: Institute of Finance – Corvinus University of Budapest Room E.279.1. (Corvinus Main Building E, second floor) / őffline event with streaming on Teams
The research paper of Dr. De Angelis shows us how green investing spurs companies to mitigate their carbon emissions by raising the cost of capital of the most carbon-intensive companies. Companies’ emissions decrease when the wealth share of green investors and their sensitivity to climate externalities increase. We show that the impact of green investors primarily governs companies’ long-run emissions.
Companies are further incentivized to reduce their emissions when green investors anticipate tighter climate regulations and climate-related technological innovations. However, heightened uncertainty regarding future climate risks alleviates green investors’ pressure on the cost of capital of companies and pushes them to increase their emissions. Calibrated on U.S. data, our model suggests that, albeit effective, the impact of green investors remains limited given their current wealth share and practices.
The event is held offline, but you can watch the online streaming through Microsoft Teams which is available through this link.
You can read the full paper of joint work by Dr. Tiziano De Angelis with David Zerbib and Peter Tankov (ENSAE) by clicking on this link.
If you would like to know more about the further research of Dr. De Angelis, please visit his scholarly site here.