Riccardo Rebonato invited to discuss climate-related risks and financial stability at CEMLA/Bank of Spain Course
Written on 04 Oct 2023.
IV Course ON FINANCIAL STABILITY
Riccardo Rebonato, Scientific Director, EDHEC-Risk Climate Impact Institute, and Professor of Finance, EDHEC Business School has been invited to deliver three presentations on the topic of climate-related risks and financial stability at the CEMLA/Bank of Spain Financial Stability Course, taking place on October 25 and 26 at Bank of Spain headquarters in Madrid.
On October 25, at 9:00am CET, Professor Rebonato will give an "Introduction to climate scenarios". His presentation will examine the following topics:
- Why climate scenarios are different from ‘usual’ financial scenarios, and why a probabilistic dimension is more, not less, needed for climate scenarios
- Sources and different “types of” uncertainty in climate models
- A modular approach to scenario analysis
The session will be chaired by Carmen Broto Pelegrin, Head of Macroprudential Analysis Unit, Banco de España
On October 25, at 10:30am CET, Professor Rebonato will give a presentation on "Modeling climate uncertainty". His presentation will delve into the following topics:
- How to model the link between GDP/Person and carbon intensity, emissions / GDP, population growth, and savings
- How to model climate uncertainty
- How to model policy uncertainty
The session will be chaired by Matias Ossandon Busch, Director of Financial Stability, CEMLA
On October 25, at 12:30pm CET, Professor Rebonato will give a presentation on "Climate risk and policy applications". His presentation will examine the following topics:
- Obtaining and analyzing several condition distribution
- Reverse stress testing
- Implications for asset valuation and financial stability
The session will be chaired by Sergio Mayordomo Gomez, Head of the Financial Analysis Division, Banco de España
About the Center for Latin American Monetary Studies (CEMLA)
CEMLA is since 1952 the Center for Latin American Monetary Studies, an association of central banks with the goal of conducting frontier economic research and promoting capacity building in the areas of monetary policy, financial stability, and financial market infrastructures. CEMLA’s primary purpose is to foster cooperation among its more than 50 associated central banks and financial supervisory authorities across the Americas, Europe, and Asia, encouraging policies and technical advances that enhance price and financial stability as key conditions to achieve economic development and improve living conditions through stable and sound macro-financial fundamentals.
About EDHEC
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.
