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December 2019

Friday Lunch Meeting, Edwin Zaccai, December 20th 2019

20 December 2019

Speaker

Edwin Zaccai Professor at the Université Libre de Bruxelles and Director of the Center for Sustainable Development Studies (CESD)

 

Title

Book: Two Degrees – Societies Facing Climate Change
 

Discussants

Jean Baptiste Fressoz researcher at the CNRS at the Alexandre Koyré Center of the EHESS, author of “The Anthropocene Event: The Earth, History and Us”. Threshold, 2013.

Amy Dahan, CNRS research director, author of “Governing Climate, What Future Possible ?: Twenty Years of Negotiations.” Press Po Science, 2015.

Abstract
 
Two degrees, it seems little, but it’s huge. Earth’s temperature has already increased by one degree since pre-industrial times. Carbon emissions related to human activities are primarily responsible. Climatic upheavals are underway and their impacts will only get worse. It is almost certain that we will not hold the goal, solemnly endorsed by the world’s governments, of keeping global warming below 2 ° C. The reason for this incapacity lies in the triple dependence of our societies (technical, economic, cultural) on fossil energies, which constitute a base as diffuse as powerful. Science tells us that at this rate the worst is to be feared. But that does not induce an individual leak. We must, on the contrary, face collectively. Noting the current impossibility of radically changing our way of life and organization, this book nevertheless commits us to follow several realistic paths of adaptation and reform to prepare a less dark future.
 
 
 
If you wish to receive invitations to FLMs, present your works or unsubscribe from the mailing list please feel free to contact this address: flm@ChaireEconomieduClimat.org

 

Chaire Economie du Climat

Palais Brongniart, 28 Place de la bourse – 75 002 Paris

FLM- Salle du Séminaire – 4è étage (12.30 pm – 2 pm)

See the details of this event

January 2020

Friday Lunch Meeting, Olivier David Zerbib, January 17th 2020

17 January 2020

Speaker

Olivier David Zerbib – PhD student in finance at Tilburg University and ISFA

 

Title

Abstract
 
I demonstrate how sustainable investing through exclusionary screening and environmental, social and governance (ESG) integration affects asset returns. I develop an asset pricing model with partial segmentation and disagreement among investors. I characterize two exclusion premia generalizing Merton’s (1987) premium on neglected stocks and a taste premium that disentangles the link between ESG and financial performance. By constructing an instrument that captures sustainable investors’ tastes for green firms, I estimate this model applied to green investing and sin stock exclusion using U.S. data between 2000 and 2018. The model outperforms the four-factor model, and yields a taste and an exclusion effect of 1.5% and 2.5% per year, respectively.
 
 
 
If you wish to receive invitations to FLMs, present your works or unsubscribe from the mailing list please feel free to contact this address: flm@ChaireEconomieduClimat.org

 

Chaire Economie du Climat

Palais Brongniart, 28 Place de la bourse – 75 002 Paris

FLM- Salle du Séminaire – 4è étage (12.30 pm – 2 pm)

See the details of this event
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