Research
May 15, 2023 
Julian di Giovanni
Head of the Climate Risk Studies Department in the Research Group
Federal Reserve Bank of New York
Professor Stefano Giglio spoke about his recent working paper “Climate Finance” (with Bryan Kelly and Johannes Stroebel). From the abstract:
“We review the literature studying interactions between climate change and financial markets. We first discuss various approaches to incorporating climate risk in macro-finance models. We then review the empirical literature that explores the pricing of climate risks across a large number of asset classes including real estate, equities, and fixed income securities. In this context, we also discuss how investors can use these assets to construct portfolios that hedge against climate risk. We conclude by proposing several promising directions for future research in climate finance.”
Young Scholars
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