Event

Second Conference in Sustainable Finance

The Department of Finance at the University of Luxembourg organizes the 2nd Conference in Sustainable Finance on 6 July 2023, in Luxembourg (in-person). The academic conference is hosted by the Sustainable Finance Chair, which is supported by the Ministry of Finance and the Ministry of Environment, Climate and Sustainable Development of Luxembourg.

The conference will offer an engaging social program starting with a welcome dinner on the evening of 5 July 2023, and a conference reception on 6 July 2023.

Programme

8.30-8.45 Welcome (coffee)

8.45-9.00 Welcome by Professor Simone Niclou, Vice-Rector for Research at the University of Luxembourg

Session 1 (from 9.00 to 10.30): Firm-Level Management of ESG

  • Chair

    Christos Koulovatianos (University of Luxembourg)

  • 9.00 – 9.30

    Sustainable Organizations

    Thomas Geelen – Jakub Hajda – Jan Starmans
    Discussant: Salvatore Miglietta (BI Oslo)

  • 9.30 – 10.00

    Dynamic Carbon Emission Management

    M. Cecilia Bustamante – Francesca Zucchi
    Discussant: Lin SHEN (INSEAD)

  • 10.00 – 10.30

    Private Equity and Gas Emissions: Evidence from Electric Power Plants

    Xuanyu Bai – Youchang Wu
    Discussant: Charlotte Ostergaard (Copenhagen Business School)

  • 10.30 – 11.00

    Coffee Break

Session 2 (from 11.00 to 12.30): ESG Investing

  • Chair

    Diane Pierret (University of Luxembourg)

  • 11.00 – 11.30

    Investments that Make our Homes Greener: The Role of Regulation

    Nuno Clara – Joao F. Cocco – Lakshmi Naaraayanan – Varun Sharma
    Discussant: Kornelia Fabisik (University of Bern)

  • 11.30 – 12.00

    Limits of Equilibrium ESG Investing

    Andrei Kirilenko – Christoph Loch
    Discussant: Yrjo Koskinen (University of Calgary)

  • 12.00 – 12.30

    Reducing Carbon using Regulatory and Financial Market Tools

    Franklin Allen – Adelina Barbalau – Federica Zeni
    Discussant: Ulf von Lilienfeld-Toal (University of Luxembourg)

  • 12.30 – 14.00

    Lunch Break

Session 3 (from 14.00 to 15.00): The limits of divestment

  • Chair

    Roberto Steri (University of Luxembourg)

  • 14.00 – 14.30

    Why Divest? The Political and Informational Roles of Institutions in Asset Stranding

    Murray Carlson – Adlai Fisher – Ali Lazrak
    Discussant: Thomas Geelen (Copenhagen Business School)

  • 14.30 – 15.00

    Socially Responsible Divestment

    Alex Edmans – Doron Levit – Jan Schneemeier
    Discussant: Abraham Lioui (EDHEC)

  • 15.00 – 15.15

    Coffee Break

Session 4 (from 15.15 to 16.15): Mutual Funds and ESG Disclosure

  • Chair

    Luciano A. Somoza (ESSEC Business School)

  • 15.15 – 15.45

    Catering through transparency: Voluntary ESG disclosure by asset managers and fund flows

    Marco Ceccarelli – Simon Glossner – Mikael Homanen
    Discussant: Moqi Groen-Xu (Queen Mary University of London)

  • 15.45 – 16.15

    The Market for ESG Ratings

    Ehsan Azarmsa – Joel Shapiro
    Discussant: Raphael Levy (HEC Paris)

Keynote Presentations and Panel Discussion: Designing Green Financial Markets of the Future at Banque de Luxembourg

  • Chair

    François Koulischer (University of Luxembourg)

    • François KOULISCHER

      Assistant professor in Sustainable Finance

      View profile

  • 17.15 – 17.20

    Welcome by Luc Rodesch (Banque de Luxembourg)

  • 17.20 – 17.50

    Green Bonds, Caroline Flammer (Columbia University), Keynote Presentation

  • 17.50 – 18.20

    The Impact of Impact Investing, Jonathan Berk (Stanford University), Keynote Presentation

  • 18.20 – 19.00

    Panel Discussion on “Designing Green Financial Markets of the Future”

    Moderator: Michael Halling (University of Luxembourg)

    Panelists:

    • Jonathan Berk (Stanford University)
    • Jean-Marc di Cato (CRO of the Clearstream Group Luxembourg)
    • Caroline Flammer (Columbia University)

For any question regarding the conference, contact François Koulischer or Michael Halling.

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