Irene Monasterolo discussed the economic case for tackling climate change now at a Brookings Institution’s event

Written on 07 Apr 2023.

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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:

  1. 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

  1. 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.