Le bouclage macro-économique des axes 1 et 2 permet de répondre à la question de la rentabilité des scénarios de transition. Question qui conduit immédiatement à celle de leur financement, laquelle comportera à son tour deux volets.
Article published in Environmental and Resource Economics – September 2017 Abstract. We consider a partial equilibrium model to study the optimal phasing out of...
Download all the material (speakers presentations and the vidéos) that has been produced during the Symposium for the High Level commission on Carbon prices (17 May 2017).
The article examines whether the extra-financial performance of countries on environmental, social and governance (ESG) factors matters for sovereign bonds markets. Using a panel regression model over a data set with 23 OECD countries from 2007 to 2012, it shows that ESG ratings significantly decrease government bond spreads.
Impact investments are emerging as a new asset class of social finance, sometimes driven by multinational enterprises as part of their strategic corporate social...
Impact investments are emerging as a new asset class of social finance. The article is based on on a three year action-research program conducted with Schneider Electric. It analyzes the perceptions of the Schneider Electric impact investing fund’s managers’ regarding emerging societal performance management procedures they were urged to adopt.
France Stratégie and the Chair Energy et Prosperity are teaming up to organize a workshop on the contribution of the financial system to the energy transition and climate stabilization. The
The Chair Energy and Prosperity is partner of the International Symposium on Money, Banking and Finance, annual meeting of the European Research Group on Money Banking and Finance.
Quand la finance s’intéresse aux risques financiers posés par le réchauffement climatique En septembre 2015, Mark Carney, gouverneur de la Banque d’Angleterre et Président...
Output-based allocations (OBAs) are typically used in emission trading schemes to mitigate leakage in sectors at risk. Recent work has shown they may also help to stabilize prices in markets subject to supply and demand shocks. We extend previous work to simultaneously include both leakage and volatility.
The paper studies pollution permit markets in which a fraction of permits are allocated to firms based on their output. Output-based allocations, which are receiving increasing attention in the design of carbon markets around the world are shown to be optimal under demand and supply volatility despite the output distortions they may create.
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