Conference – Financing the transition to sustainable development
Sciences Po, École Polytechnique, Columbia Global Centers and Alliance Program are pleased to invite you to the next conference of their “Economists facing climate change” series of lectures:
Financing the transition to sustainable development
Thursday 4th June 2015 at Sciences Po
27 rue Saint-Guillaume, Paris 7ème (from 5 to 7 pm)
Patrick Bolton (Columbia Business School) and Pierre Ducret (Caisse des Dépôts et Consignations-Climat)
John Coatsworth (Provost of Columbia University) will introduce and moderate the presentations and debates.
Participation is free but registration is required:
The conference will be held in English.
Along with governments, the private sector must play a key role in reducing greenhouse gas emissions. Private sector involvement is essential because any significant move toward renewable energy and energy efficiency can only be achieved through massive investments — a challenge when public finances are stretched thin in many countries, leading to inaction.
However, for the private sector to engage on a significant scale, economic incentives have to be in place. These can be in the form of immediate investment subsidies, or expected future taxation of greenhouse gas emissions. Moreover financial markets can play a critical role in accelerating the transition by changing investor expectations through portfolio decarbonization actions. The carbon divestment movement, which advocates a complete divestment from fossil fuel companies, is an increasingly popular form of decarbonization policy, but it is still a small movement relative to the size of global financial markets. A second approach, which balances the risk-management benefits of a lower carbon exposure against a market under-performance risk, is gaining traction among institutional investors. A third approach is through engagement by institutional investors with the management of the companies they invest in to push these companies to reduce their reliance on fossil fuels. Overall, financial markets can play an important role in creating their own economic incentives towards sustainable investment by raising awareness on climate risk for investors and by increasingly rewarding climate change mitigation actions.
For more information, please visit the website of the Sustainable development Center of Sciences Po