CEPR-ESSEC-Luxembourg Conference on Sustainable Financial Intermediation

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The University of Luxembourg, together with ESSEC Business School, and the Centre for Economic Policy Research (CEPR) is organizing a conference on “Sustainable Financial Intermediation in Credit and Housing Markets” in the Moselle wine region of Luxembourg.

The objective of this conference is to bring together a small group of researchers in a stimulating and pleasant atmosphere. The conference is open to all participants but with a limited number of seats, and the priority will be given to academics and researchers at central banks and other policy institutions.

The conference will feature the presentation of 8 papers (& 8 discussions) with a focus on (but not limited to) the financing of “green” assets, a session for PhD students, and a keynote presentation from Adriano Rampini (Duke University, NBER, CEPR, FARFE), and several opportunities for knowledge exchange and networking.

Scientific committee:

Programme

Monday, 29 July 2024

• 08.45 – 09.00

  Opening words

  Diane Pierret, University of Luxembourg

Financing Green Firms: Regulation And Lobbying
Chair: Diane Pierret, University of Luxembourg & CEPR

• 09.00 – 10.40

  Corporate Climate Lobbying

  Presenter: Tingyu Yu, University of Zurich

  Discussant: Luke Stein, Babson College

  Co-authors:

  • Markus Leippold, University of Zurich & SFI
  • Zacharias Sautner, University of Zurich, SFI, ECGI, & CEPR

  The Real Effects of Sustainable Finance Regulation

  Presenter: Andrea Fabiani, Bank of Italy

  Discussant: Christoph Herpfer, UVA Darden School of Business

  Co-authors:

  • Francesco Columba, Bank of Italy
  • Raffaelle Gallo, Bank of Italy
  • Giorgio Meucci, Bank of Italy

• 10.40 – 10.55

  Coffee break

Green Loans to Households
Chair: Artashes Karapetyan, ESSEC Business School

• 10.55 – 12.35

  Do ESG investors care about carbon emissions? Evidence from securitized auto loans

  Presenter: Christian Kontz, Stanford Graduate School of Business

  Discussant: Tim Eisert, Nova school of Business and Economics & CEPR

  Picking Up the PACE: Loans for Residential Climate-Proofing

  Presenter: Francesco Mazzola, ESCP Business School

  Discussant: Christophe Spaenjers, University of Colorado Boulder

  Co-authors:

  • Aymeric Bellon, UNC Chapel-Hill
  • Cameron LaPoint, Yale SOM
  • Guosong Xu, Erasmus University & RSM

• 12.35 – 13.45

  Lunch break

Doctorates short presentations
Chair: Luciano Somoza, ESSEC Business School

• 13.45 – 15.05

  Green Neighbors, Greener Neighborhoods

  Christine Zhuowei Huang, University of Texas

  Flooded House or Underwater Mortgage? The Implications of Rising Climate Risk and Adaptation on Housing, Income, and Wealth

  Yasmine Van Der Straten, University of Amsterdam & Tinbergen Institute

  Female Skin in the Game: Bridging the Gender Financing Gap

  Kristine Sahakyan, ESCP Business School

  Bank Competition and Entrepreneurial Gaps Evidence from Bank Deregulation

  Xiang Li, Boston College

Keynote session
Chair: Roberto Steri, University of Luxembourg

• 15.05 – 16.05

  Financing the Adoption of Clean Technology

  Presenter: Adriano Rampini, Duke’s Fuqua School of Business & CEPR

  Co-author: Andrea Lanteri, Duke’s Fuqua School of Business & CEPR

• 16.30 onward

  Discovery of the Mosel Region and Dinner

  ^{By invitation only}

Tuesday, 30 July 2024

Green Measurement
Chair: Roméo Tédongap, ESSEC Business School

• 09.00 – 10.40

  Your Carbon Footprint, Including Investments: An Industry-Tailored Metric of Investment and Consumption Impact,

  Presenter: Eva Schliephake, Católica Lisbon School of Business and Economics

  Discussant: David Martínez Miera, Carlos III University & CEPR

  Co-author: Hendrik Hakenes, University of Bonn

  Market-based green firms

  Presenter: Oliver Rehbein, WU Vienna & VGSF

  Discussant: Michela Altieri, Luiss Guido Carli University

  Co-authors:

  • Konrad Adler, University of St Gallen
  • Matthias Reiner, WU Vienna & VGSF
  • Jing Zeng, University of Bonn & CEPR

• 10.40 – 10.55

  Coffee break

Green Transition: Solving Incentive Problems
Chair: Martina Fraschini, University of Luxembourg

• 11.00 – 12.40

  Investor Activism and the Green Transition,

  Presenter: Simon Mayer, Carnegie Mellon University

  Discussant: Sebastian Pfeil, University of Groningen

  Co-authors:

  • Sebastian Gryglewicz, Erasmus University Rotterdam
  • Erwan Morellec, EPFL & SFI

  Capital regulation in the presence of physical climate risk,

  Presenter: Natalya Martynova, Deutsche Bundesbank

  Discussant: Sergio Vicente, University of Luxembourg

  Co-author: Kartik Anand, Deutsche Bundesbank

• 12.40 – 13.00

  Closing words

• 13.00 – 14.30

  Closing lunch

Organisers:

• Diane Pierret, University of Luxembourg & CEPR
• Artashes Karapetyan, ESSEC Business School

Contact:

An event supported by the Luxembourg National Research Fund (INTER/ANR/21/15863559/GREENFINHOME), the University of Luxembourg, ESSEC Business School, and the Centre for Economic Policy Research (CEPR).