Irene Monasterolo discussed the economic case for tackling climate change now at a Brookings Institution’s event
Written on 07 Apr 2023.
Irene Monasterolo, Research Programme Director at EDHEC-Risk Climate has been invited by the Brookings Institution to take part in the virtual conference “The economic case for tackling climate change now”, which took place on March 6, 2023.
The hazards brought about by global warming such as severe weather, surging sea levels, forest fires, and the melting of glaciers are becoming more apparent. However, there has been a lack of political determination to implement the necessary measures to prevent temperatures from exceeding the critical 2-degree Celsius mark, as deemed by scientists.
To examine the economic case for moving sooner rather than later, the Hutchins Center on Fiscal and Monetary Policy and the Center on Regulation and Markets at Brookings convened a virtual conference on March 6 to discuss two recent papers:
- “The Great Carbon Arbitrage” by Tobias Adrian, Financial Counsellor & Director, Monetary and Capital Markets Department, International Monetary Fund and coauthors, focuses on the benefits of phasing out coal as an energy source. Following the presentation, the World Bank’s Carolyn Fischer reacted.
Discussant: Carolyn Fischer, Research Manager of the Sustainability and Infrastructure Team in the Development Research Group, World Bank
- “Climate policy curves: Linking policy choices to climate outcomes” by Glenn Rudebusch, Nonresident Senior Fellow, Economic Studies, The Hutchins Center on Fiscal and Monetary Policy, The Brookings Institution and coauthors, quantifies the inverse relationship between carbon prices and future temperatures, illustrating how climate policy choices determine climate outcomes.
Discussant: Irene Monasterolo, Professor of Climate Finance, EDHEC Business School, EDHEC-Risk Climate Impact Institute
All four participated in a panel discussion on the broader implications of these issues.
To watch the replay of the virtual rountable, follow this link or see the video below:
To access the transcripts of the virtual roundtable, follow this link.
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Operating from campuses in Lille, Nice, Paris, London and Singapore, EDHEC is one of the world’s top 15 business schools. Fully international and directly connected to the business world, EDHEC commands a strong reputation for research excellence and the ability to train entrepreneurs and managers capable of breaking new ground. EDHEC functions as a genuine laboratory of ideas and produces innovative solutions valued by businesses. The School’s teaching is inspired by its research work and a focus on “learning by doing”, all with the aim of equipping people with the skills to succeed in business.
