PROGRAMME 2024
Thursday
08.30
REGISTRATION
09.00
WELCOME AND OPENING REMARKS
Monica Billio, Ca' Foscari University of Venice
Marcin Kacperczyk, Imperial College London & CEPR, Programme Chair
09.15
SESSION I: CARBON TRANSITION RISK
Chair: Lucia Alessi, Joint Research Center, European Commission
Invited Talk: The CO2 Question: Technical Progress and the Climate Crisis
Marcin Kacperczyk, Imperial College London & CEPR, Programme Chair
Carbon-Transition Risk and Net-Zero Portfolios
Gino Cenedese, Fulcrum Asset Management, London (joint with Shangqi Han and Marcin Kacperczyk)
Discussant: Nicola Borri, LUISS Guido Carli University, Rome
Technological Greenness and Long-run Performance
Irene Monasterolo, Utrecht University, Vienna University of Economics and Business & CEPR (joint with Stefano Battiston and Maurizio Montone)
Discussant: Adelina Barbalau, University of Alberta, Edmonton
11.00
COFFEE BREAK
11.30
SESSION II: GREEN BONDS AND LOANS
Chair: Stephen Schaefer, London Business School
Green Bonds: New Label, Same Projects
Pauline Lam, New York University (joint with Jeffrey Wurgler)
Discussant: Loriana Pelizzon, Leibniz Institute for Financial Research SAFE, Frankfurt am Main, Ca’ Foscari University of Venice & CEPR
Do Voluntary Pledges Make Loans Greener?
Robin Döttling, Erasmus University (joint with Tobias Berg, Xander Hut and Wolf Wagner)
Discussant: Caterina Rho, Joint Research Center, European Commission, Ispra
Greenness Demand for US Corporate Bonds
Alexander Pasler, Vienna University of Economics and Business (joint with Rainer Jankowitsch, Patrick Weiss and Josef Zechner)
Discussant: Stephen Schaefer, London Business School
13.00
LUNCH
14.15
SESSION III: CLIMATE AND PHYSICAL RISK
Chair: Caterina Rho, Joint Research Center, European Commission, Ispra
Weather Variance Risk Premia
Stephen Szaura, BI Norwegian Business School, Oslo (joint with Joon Woo Bae, Yoontae Jeon and Virgilio Zurita)
Discussant: Massimilano Caporin, University of Padova
The Value of ESG Data Granularity for Disclosure Purposes – Focus on Physical Risk
Valeria Nale, CRIF Trasformation Services, Milan (joint with Mario Martina)
Discussant: Monica Billio, Ca' Foscari University of Venice
Climate Risk, Soft Information, and Credit Supply
Sergio Mayordomo, Bank of Spain, Madrid (joint with Laura Álvarez-Román, Carles Vergara-Alert and Xavier Vives)
Discussant: Marti Subrahmanyam, New York University
16.45
SESSION IV: INVESTING UNDER CLIMATE RISK
Chair: Steven Ongena, University of Zurich, Swiss Finance Institute, KU Leuven & CEPR
ESG Favoritism in Mutual Fund Families
Anna Zsofia Csiky, Vienna University of Economics and Business (joint with Rainer Jankowitsch, Alexander Pasler and Marti G. Subrahmanyam)
Discussant: Carmelo Latino, Leibniz Institute for Financial Research SAFE, Frankfurt am Main
Sustainable Short Selling
Mila Getmansky Sherman, University of Massachusetts, Amherst (joint with Bing Liang, Loriana Pelizzon and Tianyi Qu)
Discussant: Massimiliano Croce, Bocconi University, Milan
Responsible Investing under Climate Change Uncertainty
Francesco Rocciolo, Nazarbayev University (joint with Monica Billio and Massimo Guidolin)
Discussant: Marcin Kacperczyk, Imperial College London & CEPR
October 4th
Friday
09.00
SESSION V: AI – NEW OPPORTUNITIES OR NEW RISKS?
Chair: Loriana Pelizzon, Leibniz Institute for Financial Research SAFE, Frankfurt am Main, Ca’ Foscari University of Venice & CEPR
Invited Talk: The EPOCH of AI
Roberto Rigobon, MIT Sloan School of Management, Cambridge
How Ethical Should AI Be? How AI Alignment Shapes the Risk Preferences of LLMs
Shumiao Ouyang, University of Oxford (joint with Hayong Yun and Xingjian Zheng)
Discussant: Jan Pieter Krahnen, Leibniz Institute for Financial Research SAFE, Frankfurt am Main
Producing AI Innovation and Its Value Implications
Ambrus Kecskés, York University, Toronto (joint with Ali Ahmadi, Roni Michaely and Phuong-Anh Nguyen)
Discussant: Hayong Yun, Michigan State University, East Lansing
10.45
COFFEE BREAK
11.15
PANEL SESSION 1: NEW RISKS AND CHALLENGES: AI AND THE DIGITAL TRANSITION
Moderator: Jan Pieter Krahnen, Founding Director Emeritus of the Leibniz Institute for Financial Research SAFE, Frankfurt am Main
Marie Brière, Head of Investor Intelligence & Academic Partnerships, Amundi Investment Institute, Paris
Alessandro De Angelis, Scientific Attaché at the Permanent Delegation of Italy to the International Organisations in Paris
Helmut Kraemer-Eis, Head of Research & Market Analysis, European Investment Fund, Luxembourg
Giulio Mignola, Executive Director Enterprise Risk Management, Intesa Sanpaolo, Turin
Roberto Rigobon, Sloan School of Management, MIT, Cambridge, Massachusetts
13.00
LUNCH
14.15
SESSION VI: AI – NEW OPPORTUNITIES AND NEW RISKS
Chair: Jan Pieter Krahnen, Leibniz Institute for Financial Research SAFE, Frankfurt am Main
Invited Talk: Artificial Intelligence for Sustainable Finance
Marie Brière, Amundi Investment Institute, Paris & Université Libre de Bruxelles
Data Risk, Firm Growth, and Innovation
Kumar Rishabh, University of Lausanne & University of Basel (joint with Orlando Gomes and Roxana Mihet)
Discussant: Steven Ongena, University of Zurich, Swiss Finance Institute, KU Leuven & CEPR
On the Origins of Cyber Risk: The Role of Software Vulnerabilities
Antonino Emanuele Rizzo, University of Notre Dame & NOVA School of Business and Economics, Carcavelos (joint with Giorgio Ottonello)
Discussant: Silvio Vismara, University of Bergamo
16.45
PANEL SESSION 2: NEW RISKS AND CHALLENGES: AI AND THE SUSTAINABILITY TRANSITION
Moderator: Monica Billio, Professor of Econometrics, Ca' Foscari University of Venice
Stefano Bonetti, Professor of Condensed Matter Physics, Ca' Foscari University of Venice and Founder, RARA Factory srl
Mila Getmansky Sherman, Professor of Finance, Isenberg School of Management, UMass Amherst
Marco Marelli, Cofounder Prospiciunt and Editorial Director Focus ESG
Valentino Pediroda, Professor of Numerical Methods, University of Trieste and CEO & Cofounder Modefinance
Luigi Ruggerone, Senior Director Innovation Center, Intesa Sanpaolo
18.00
CLOSING REMARKS and END OF THE CONFERENCE
