Offsetting and Carbon Emission Rights, a View on European Regulatory Approach and Business Practices
EDHEC-Risk expert Irene Monasterolo, has been invited by the European University Institute to take part in the 12th edition of The State of the Union's annual policy conference #SOU2022, to be held from 5 to 7 May 2022 and which will focus on the future of the European Union.
The annual summit, titled "A Europe Fit for the Next Generation?" will focus on the European Union’s role in a constantly evolving global landscape. Leaders and Experts from all over the world will deal with issues ranging from multilateral governance to sustainability and resilience, democracy and the rule of law, to the developments in attitudes to migration, the future of digitalisation, and how crisis can fuel change. Prominent speakers will discuss how the Next Generation EU recovery plan can address the damage inflicted by the pandemic. Looking beyond Europe, the conference will feature panels on the future of transatlantic relations and Africa’s emerging role on the global stage. The conference will also address the conflict in Ukraine, covering the crisis’ complex geopolitical, economic and legal ramifications.
The meeting will be held in a hybrid format (online and in Florence, Italy) and will be plit into 5 streams:
- Sustainability & Resilience
- Democracy and the Rule of Law
- A more Just Future?
- Society & Migration
- Crisis & Change
Organised by the European University Institute, #SOU2022 is a unique opportunity for the worlds of academia, policymaking, business, media, and civil society to come together and come up with constructive proposals for a more effective EU action.
On May 5, at 4:00pm CET, Irene Monasterolo, Professor of Climate Finance, EDHEC Business School, will participate in a session on carbon markets and greenwashing, together with:
- Roberto Aquilini, Head of Energy Management, Poste Italiane
- Roberta Benedetti de Rio, Senior Advisor, Impact, Just Climate
- Cosimo Pacciani, Head of Research, Poste Italiane Group Research Hub
- Jos Delbeke, EIB Climate Chair in Climate Change Policy and International Carbon Markets, European University Institute
Recent focus of the European regulators on the developing carbon rights market will be examined in this panel, with an overview of some work published by ESMA and the European Commission on the capacity of the Carbon Emission rights to be used efficiently for offsetting activities.
Further information on the conference can be found on the The State of the Union website.
Roberto Aquilini is Head of Energy Management in Postepay SpA, developing the new business of energy sales that the Group Poste Italiane is launching in 2022, with a focus on sustainability and green. More than 20 years of experience in the energy sector, specially in electricity and gas supply and sales, energy efficiency, portfolio optimization and risk management, strategy and regulatory affairs, business development. Before joining the group Poste Italiane in 2021, he was Director Sourcing & Portfolio Mgt, Strategy & Regulatory at Engie Italia, after working for other major players in the Italian energy market, such as Enel Energia, and he held key roles in many associations of energy and gas sector in Italy.
Roberta Benedetti del Rio is Currently Co-Chair of the Global Investors Panel at Deep Transition Futures and Senior Advisor focused on impact strategy at Just Climate, part of Generation IM. She is experienced investor passionate about finding systems solutions to our sustainability crisis.
Jos Delbeke is Professor at the School of Transnational Governance (EUI) and Visiting Professor at KU Leuven. He holds the first EIB Chair on Climate Policy and International Carbon Markets and was previously Director-General of the European Commission’s DG for Climate Action (2010-2018). Delbeke was involved in setting the EU’s climate and energy targets for 2020 and 2030, and in developing EU legislation on the Emissions Trading System (ETS), cars and fuels, air quality, emissions from big industrial installations and chemicals (REACH). He developed Europe’s International Climate Change strategy and was the European Commission’s chief negotiator at the UNFCCC Conference of the Parties, playing a key role in the EU’s implementation of the Kyoto Protocol and in negotiations on the Paris Agreement.
Irene Monasterolo is Professor of Climate Finance at EDHEC Business School and EDHEC-Risk Institute in Nice and senior research fellow at the Vienna University of Economics and Business and Boston University. Irene holds a PhD from the University of Bologna. Currently, with the EIRIN model, Irene is supporting the World Bank in the analysis of the macro-financial criticality of compounding COVID-19 and climate risk, and is collaborating with the European Central Bank at the analysis of the double materiality of climate risk in the EU economy and banking sector. Irene is contributing to the G24 V20 countries’ Task Force on Climate, Development, and the IMF led by Boston University’s Global Development Policy Center, as well as to the World Bank’s Crisis Risk Analytics project of the Global Risk Financing Facility aimed to assess the macroeconomic and financial implications of compounding COVID-19 and climate physical risks.
Cosimo Pacciani has joined Poste Italiane and he has been recently appointed as Head of the Group’s Research hub. Recently, he has been part of a Ministerial Commission for the Italian Ministry of Sustainable Mobility, where he cowrote a report on Sustainable Finance for transportation projects. He is member of the Business Board of a Unesco initiative on Artificial Intelligence for Sustainable Development. Previously, he covered the role of Chief Operating Officer for Algebris, a London based asset manager, until 2020, and he has been the Chief Risk Officer for the European Stability Mechanism from 2014 to 2019. He has a long career in finance in the City of London, where he spent 11 years with RBS, covering several roles: Chief Operating Officer for the Group Credit Risk function, Head of Risk and Compliance for the Asset Protection Scheme, the mechanism established by the British Government to rescue the banking system and Head of Credit Risk for Corporate and Public Institutions in Europe. Before RBS, he worked for the Investment arm of Credit Suisse First Boston and he started his City career for the London branch of Monte dei Paschi di Siena in 1998. He holds a Ph.D. in Economics from the University of Siena and a Master Degree in Economics from the University of Florence.