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.
This paper studies whether and how a country's environmental, social, and governance (ESG) performance relates to its sovereign borrowing costs in international capital markets.
This paper analyzes the potential benefit of using subsidies conditional on success or failure of an R&D program, rather than a flat subsidy.
In their response, experts associated with the Chair emphasize the predominance of accounting standards over non-financial information to guide corporate strategies. Accounting is not neutral, and the fact that it does not integrate human and natural capital is a major obstacle to achieving the EU's sustainability objectives.
The aim of this paper is to explain why there is insufficient long-term capital investment despite the abundant savings collected by a booming financial sector. Special attention is given to understanding the role of today’s accounting and prudential requirements.
The paper shows that International Financial Reporting Standards (IFRS) can affect long-term asset allocation of banks and insurance companies. International accounting standards do not differentiate between low and carbon intensive investment and do not take into account climate risks beforehand.
This paper examines the relationships between corporate governance and corporate sustainability by focusing on two main components of companies’ governance structure: boards of directors and investor relations officers.
This article seeks to investigate whether the fair value accounting may have short-termist bias on the financing of long-term investment.
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 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...
Dans le cadre de son semestre thématique consacré au financement de la transition énergétique, la Chaire énergie et prospérité a organisé une seconde session...
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