CREDIT 2019
General Information

Welcome

Programme & Papers
Conference Venue
Registration
Committees
Past CREDIT Events
Technical Information
Call for Papers
Keynote Speakers
Important Dates
Author Instructions
Travel & Lodging
Accommodations
Social programme
About Venice
Must See-sights

 

 

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Programme

Thursday, September 26 2019

108.30 - 09.00 Registration
109.00 - 09.15

Welcome: Michele Bugliesi (Rector, Ca’ Foscari University of Venice)
Opening Remarks: Carlo Carraro (Ca’ Foscari University of Venice & CMCC, Programme Chair)

109.15 - 11.00 Session I: BANKS AND CREDIT RISK
      • Key-note talk: Banks and Climate Risk
        Til Schuermann (Oliver Wyman, New York)
      • Climate Change and Credit Risk
        Giusy Capasso (Bocconi University) and Gianfranco Gianfrate (EDHEC Business School, Nice)
        Discussant: Roberto Panzica (European Commission)
      • Relaxing Credit Constraints: Credit Risk, Financial Intermediation Quality, and Environmental Impact
        Ashay Kadam (Indian Institute of Management at Udaipur) and Magdalena Pisa (WHU - Otto Beisheim School of Management)
        Discussant: Andrea Giacomelli (Knowshape, Venice)
111.00 - 11.30 Coffee break
111.30 - 13.15 Session II: CLIMATE RISK AND EQUITY MARKETS
      • Key-note talk: New Results on Sustainable Investing
        Robert Engle (New York University)
      • Climate Risks and Stock Returns
        Eugenio Carnemolla (University of Lausanne) and Giuseppe Vinci (Rice University, Houston)
        Discussant: Massimiliano Caporin (University of Padua)
      • Investor Ownership and Carbon-Intensive Stocks: Who Holds the Carbon Risk Bomb?
        Lukas Benz (University of Augsburg), Stefan Paulus (University of Augsburg), Julia Scherer (University of Augsburg), Janik Syryca (University of Augsburg) and Stefan Trück (Macquarie University, Sidney)
        Discussant: Thomas Heller (Climate Policy Initiative & Stanford University)
113.15 - 14.15 Lunch
114.15 - 15.45 Session III: CLIMATE POLICY RISK
      • Being Stranded with Fossil Fuel Reserves? Climate Policy Risk and the Pricing of Bank Loans
        Manthos D. Delis
        (Montpellier Business School), Kathrin de Greiff (University of Zurich & Swiss Finance Institute) and Steven Ongena (University of Zurich, Swiss Finance Institute, KU Leuven & CEPR)
        Discussant: Cristiano Zazzara (S&P Global Market Intelligence, London)
      • Assessing Sustainable Finance Policies Via a Stock-flow Consistent Macro Model with Portfolio Choice
        Nepomuk Dunz (Wirtschaftsuniversität Wien), Irene Monasterolo (Wirtschaftsuniversität Wien) and Marco Raberto (University of Genoa)
        Discussant: Carlo Giupponi (Ca’ Foscari University of Venice)
      • Carbon Pricing Paths To A Greener Future And Potential Roadblocks To Public Companies Credit-Worthiness
        Giorgio Baldassarri Höger von Högersthal
        (S&P Global Market Intelligence, London), Arsene Lui (S&P Global Market Intelligence, London), Hrvoje Tomicic (S&P Global Market Intelligence, London), Luka Vidovic (S&P Global Market Intelligence, London) and Cristiano Zazzara (S&P Global Market Intelligence, London)
        Discussant: Anant K. Sundaram (Dartmouth College)
115.45 - 16.30 Coffee break and Poster Session
116.30 - 18.15 Session IV: CLIMATE CHANGE AND ASSET PRICES
      • Key-note talk: ESG Engagement and Downside Risk
        Andreas Hoepner (University College Dublin)
      • Is Firm-level Clean or Dirty Innovation Valued More?
        Antoine Dechezleprêtre (London School of Economics), Cal B. Muckley (University College Dublin) and Parvati Neelakantan (University College Dublin)
        Discussant: Marti G. Subrahmanyam (New York University)
      • ESG and Corporate Credit Spreads
        Florian Barth (Friedrich-Alexander Universität Erlangen-Nürnberg), Benjamin Hübel (Friedrich-Alexander Universität Erlangen-Nürnberg) and Hendrik Scholz (Friedrich-Alexander Universität Erlangen-Nürnberg)
        Discussant: Loriana Pelizzon (SAFE - Goethe University Frankfurt)
120.00 Social dinner at the Hotel Monaco: Speech by Ignazio Visco (Governor, Bank of Italy)

 

Friday, September 27 2019

109.00 - 10.45 Session V: CLIMATE RISK PRICING AND ASSESSMENT
      • Key-note talk: A Climate Finance Risk Assessment and Management Approach under Uncertainty
        Irene Monasterolo (Wirtschaftsuniversität Wien)
      • The Greenium Matters: Evidence on the Pricing of Climate Risk
        Lucia Alessi
        (European Commission), Elisa Ossola (European Commission) and Roberto Panzica (European Commission)
        Discussant: Andreas Hoepner (University College Dublin)
      • Climate Risk and Financial Stability in the Network of Banks and Investment Funds
        Alan Roncoroni (University of Zurich), Stefano Battiston (University of Zurich), Luis Onésimo Leonardo Escobar Farfán (Banco de Mexico) and Serafin Martinez Jaramillo (Banco de Mexico & Centro de Estudios Monetarios Latinoamericanos)
        Discussant: Matteo Manera (University of Milano-Bicocca)
110.45 - 11.15 Coffee break
111.15 - 12.45 PANEL SESSION: CLIMATE CHANGE RISK: THE POLICY MAKERS' POINT OF VIEW
Moderator: Francesca Campolongo (Joint Research Center, European Commission)

Participants:
Sergio Nicoletti Altimari (European Central Bank)
Mattia Romani (European Bank for Reconstruction and Development)
Nancy Saich (European Investment Bank)
Manuela Zweimueller (European Insurance and Occupational Pensions Authority)
Mario Nava (European Commission) will contribute a video message

112.45 - 13.45 Lunch
113.45 - 15.15 Session VI: LENDING AND CLIMATE CHANGE
      • High Water, No Marks? Biased Lending After Extreme Weather
        Nicola Garbarino (Bank of England) and Benjamin Guin (Bank of England)
        Discussant: Steven Ongena (University of Zurich, Swiss Finance Institute, KU Leuven & CEPR)
      • Buildings' Energy Efficiency and the Probability of Mortgage Default: The Dutch Case
        Monica Billio (Ca’ Foscari University of Venice & GRETA), Michele Costola (SAFE - Goethe University Frankfurt), Loriana Pelizzon (SAFE - Goethe University Frankfurt) and Max Riedel (SAFE - Goethe University Frankfurt & Ca' Foscari University of Venice)
        Discussant: Olivier De Jonghe (National Bank of Belgium & Tilburg University)
      • Climate Change and Bank Lending: the Case of Flood Risk in Italy
        Ivan Faiella (Bank of Italy) and Filippo Natoli (Bank of Italy)
        Discussant: Malcolm Mistry (Ca’ Foscari University of Venice & CMCC)
115.15 - 15.45 Coffee break
115.45 - 17.15

PANEL SESSION PRACTICE: CLIMATE CHANGE RISK: A PRACTITIONERS’ VIEW
Moderator: Isabella Bufacchi (Il Sole 24 Ore)

Participants:
Mark Carhart (Kepos Capital, New York)
Carlo Carraro (Ca’ Foscari University of Venice & CMCC)
Robert Engle(New York University)
Giulio Mignola (Intesa Sanpaolo, Turin)
Jobst Neuss (European Investment Fund, Luxembourg)
Til Schuermann (Oliver Wyman, New York)
Cristiano Zazzara (S&P Global Market Intelligence, New York)

117.15 - 18.15 Session VII: CLIMATE CHANGE AND BOND MARKET
      • Climate Change Implications for the Catastrophe Bonds Market: An Empirical Analysis
        Claudio Morana
        (University of Milano - Bicocca, Center for Research on Pensions and Welfare Policies & Rimini Centre for Economic Analysis) and Giacomo Sbrana (NEOMA Business School)
        Discussant: Luca De Angelis (University of Bologna)
      • The Pricing of Green Bonds: Are Financial Institutions Special?
        Serena Fatica (European Commission), Roberto Panzica (European Commission) and Michela Rancan (European Commission)
        Discussant: Marcello Pericoli (Bank of Italy)
1 End of Conference - Exclusive visit to the Venetian Collection of Intesa Sanpaolo and cocktail at the Querini Stampalia
Sponsors:
GRETA
European DataWarehouse

Intesa San Paolo

S&P Global Market Intelligence

 

 

 

Auspices:
Dipartimento di Economia ICEF
ABI
AIAF

JRC - European Commission

 

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