Global financial implications of transitioning to low-carbon economy
Sustainable finance and central banking expert Professor Dirk Schoenmaker from the Netherlands is giving a free public lecture at Victoria University as the 2017 Reserve Bank of New Zealand Professorial Fellow in Monetary and Financial Economics.
9 November 2017
His lecture, ‘Climate Change and Financial Sustainability’, will examine the global financial implications of transitioning to a low-carbon economy.
Keeping global warming below 2°C will require substantial reductions in global greenhouse gas emissions. Professor Schoenmaker will consider a benign scenario where the transition to a low-carbon economy occurs gradually, adjustment costs are manageable and the repricing of carbon assets is not likely to entail systemic risk. In an adverse scenario the transition occurs late and abruptly, affecting systemic risk via various channels.
Professor Schoenmaker will consider how policy could aim for enhanced disclosure of the carbon intensity of non-financial firms. The related exposures of financial firms could then be stress-tested under the conditions of an adverse scenario.
What: ‘Climate Change and Financial Stability’ Reserve Bank of New Zealand public lecture
When: Wednesday 15 November 2017, reception from 5.30pm, lecture 6-7pm
Where: Lecture Theatre 2, Rutherford House, 23 Lambton Quay, Victoria University, Pipitea Campus
RSVP: email Jay Curtis on firstname.lastname@example.org or phone 04-463 5188.
Professor Dirk Schoenmaker bio
Professor Schoenmaker is a Professor of Banking and Finance at the Rotterdam School of Management, Erasmus University, and a Senior Fellow at the Brussels-based think tank Bruegel. He is also a member of the Advisory Scientific Committee of the European Systemic Risk Board at the European Central Bank, and a Research Fellow at the Centre for European Policy Research. He has published in the areas of central banking, financial supervision and stability, European financial integration and sustainable finance.
About the Professorial Fellow in Monetary and Financial Economics
Each year, Victoria University and the Reserve Bank of New Zealand bring a Professorial Fellow in Monetary and Financial Economics to Wellington to enhance the development of monetary and financial policy in New Zealand by advancing thinking and public debate.