Research
Conference on Climate and Energy Finance

Conference on Climate and Energy Finance

3 & 4 November 2023

Leibniz University Hannover

© Quelle: Christian Malsch / LUH
Quelle: Christian Malsch / LUH
  • Overview

    The School of Economics and Management of Leibniz University Hannover and the Hannover Center of Finance and Insurance e.V. will host the Conference on Climate and Energy Finance on 3 & 4 November 2023.

    The aim of the conference is to present and discuss high-quality research in all areas of climate and energy finance. 
    We welcome submissions from all areas related to climate and energy finance, including:

    • Micro and macroeconomic analysis
    • Pricing, Hedging, and risk analysis
    • Climate econometrics
    • Portfolio allocation and optimization
    • Coroprate finance and risk management
    • Regulation and central bank policy
    • Decision models
    • Real option analysis
    • Managerial accounting & economics
    • Global and regional trade
    • The role of developing countries

     

  • Keynote Speakers

    Jennifer Castle

    Oxford University

    Michael Goldstein

    Babson College

  • Paper Submission

    The deadline for paper submissions is midnight EST July 31, 2023. Papers must be in pdf format. Please submit one version without identifying author information and one full version with such information to the following address:

     

     

    submission@fcm.uni-hannover.de

  • Venue & Accomodation

    The conference will take place at the school of Economics and Management of Leibniz University Hannover which is located in the city center of Hannover. Hannover is the state capital of Lower Saxony and can be easily reached by plane or train. There are direct flights to all major European airports and direct train connections to all major German cities. Accommodation recommendations can be found here.

     

  • Conference Venue

    The Conference will take place in the School of Economics and Management of Leibniz University Hannover located at Königsworther Platz 1, 30167 Hannover.

     

     

  • Conference Organizers

    Lena Dräger
    Marcel Prokopczuk
    Judith Schneider
    Jens Robert Schöndube
    Marina Schröder
    Philipp Sibbertsen
    Maximilian Todtenhaupt
    Nils Foege
    Hannover Center of Finance and Insurance e.V.

  • Participation Fee

    The participation fee is € 250 (Full-time PhD students € 150). The fee includes lunches, coffee breaks, and a conference dinner.

     

  • Journal of Commodity Markets, Special Issue

    The Journal of Commodity Markets will publish a special issue devoted to the theme of the conference. More details on the submission process will be provided at the conference and on the conference webpage.

     

  • General Schedule Overview

    Friday, 03.11.2023

    Time

    Room TBD

    Room TBD

    Room TBD

    08:00-09:00 Registration in the Foyer 

    09:00 – 10:00

    Keynote 1 in room 1507|002

    10:00 – 10:30

    Coffee in the Foyer


    10:30 – 12:00

    Session 1a:
    Funds and Sustainable Finance

    Session 1b:
    Climate Risk and Bond Markets

    Session 1c:
    Electricity Markets

    12:00 – 13:00

    Lunch in the Foyer


    13:00 – 14:30

    Session 2a:
    Carbon Pricing

    Session 2b:
    Oil Market, Storage and Transportation

    Session 2c:
    Machine Learning in Energy and Climate Finance

    14:30 – 15:00

    Coffee in the Foyer


    15:00 – 16:00

    Session 3a:
    Climate Preferences in the Equity Market

    Session 3b:
    Speculation in Energy and Carbon Markets

    Session 3c:
    Banking and Climate Risk

    16:15 – 17:15

    Keynote 2 in room 1507|002

    starting 18:30

    Drinks, at Brauhaus Ernst August

                                                                                          Schmiedestraße 13
                                                                                             30159 Hannover

    starting 19:00

    Dinner, at Brauhaus Ernst August

                                                                                          Schmiedestraße 13
                                                                                             30159 Hannover

    Saturday, 04.11.2023


    09:00 – 10:30

    Session 4a:
    Econometric Modelling of Climate Risk

    Session 4b:
    Corporate Finance, Energy and Carbon Markets

    Session 4c:
    Impact of Weather and Pollution

    10:30 – 11:00

    Coffee in the Foyer


    11:00 – 12:30

    Session 5a:
    Impact and Performance of Green Finance

    Session 5b:
    Renewable Transition

    Session 5c:
    Corporate Strategy: Incentives and Inequality

    12:30 – 14:00

    Lunch in the Foyer

     

  • Session Overview, Friday 03.11.2023

    Keynote 1 in room 1507|002

    Time: 09:00 - 10:00

    Session 1A:
    Funds and Sustainable Finance
    Chair: TBD
    Location: TBD
    Time: 10:30 - 12:00

    Session 1B:
    Climate Risk and Bond Markets
    Chair: TBD
    Location: TBD
    Time: 10:30 - 12:00

    Session 1C:
    Electricity Markets
    Chair: TBD
    Location: TBD
    Time: 10:30 - 12:00

    Are Investors Paying to Be Green?

    Who pays the greenium?

    Vulnerability of European Electricity Markets: A Quantile Connectedness Approach

    Joop Huij (Rotterdam School of Management)
    Dries Laurs (Vrije Universiteit Amsterdam)
    Philip Stork (Vrije Universiteit Amsterdam)
    Remco C.J. Zwinkels (Vrije Universiteit Amsterdam)

     

    Discussant: Diana Mykhalyuk

    Daniel Fricke (Deutsche Bundesbank)
    Stephan Jank (Deutsche Bundesbank)
    Christoph Meinerding (Deutsche Bundesbank)

     

    Discussant: Inès Barahhou

    Helena Chuliá (Universitat de Barcelona)
    Tony Klein (Queen’s University Belfast)
    Jorge A. Muñoz Mendoza (University of Concepcion, Chile)
    Jorge M. Uribe (Open University of Catalonia)

     

    Discussant: Dongchen He

    Resilience of Mutual Funds to Climate Transition Shocks

    A framework to align sovereign bond portfolios with net zero trajectories

    Electricity Forward Premium: Renewable Integration and Skewness Preference

    Diana Mykhalyuk (University of the Basque Country)
    Javier Ojea-Ferreiro (Bank of Canada)
    Manuel Moreno (University of Castilla-La Mancha)

    Discussant: Rita Laura D'Ecclesia

    Inès Barahhou (Kepler Cheuvreux)
    Philippe Ferreira (Kepler Cheuvreux)
    Yassine Maalej (Kepler Cheuvreux Solutions)

    Discussant: Haibo Jiang

    Dongchen He (Tilburg Univerisity)
    Ronald Huisman (Erasmus University Rotterdam)
    Bert Willems (Tilburg Univerisity)

    Discussant: Manuel Moreno

    Are the Green ETFs Really Green?

    Oil Prices, Inflation Expectations, and Bond Risk Premiums

    Pricing electricity derivatives: A mean-reverting and seasonal approach

    Rita Laura D'Ecclesia (Sapienza University of Rome)
    Giacomo Morelli (Sapienza University of Rome)
    Kevyn Stefanelli (Sapienza University of Rome)

     

     

    Discussant: Dries Laurs

    Haibo Jiang (University of Quebec at Montreal)

     

     

     

     

    Discussant: Christoph Meinerding

    Ana Simonovic (Universitat Pompeu Fabra)
    Luca Schmiemann (Universitat Pompeu Fabra)
    Manuel Moreno (University of Castilla-La Mancha) 
    Federico Platania (Institut Superieur de Gestion (ISG))

     

    Discussant: Tony Klein

         

    Session 2a:
    Carbon Pricing
    Chair: TBD
    Location: TBD
    Time: 13:00 - 14:30

    Session 2b:
    Oil Market, Storage and Transportation
    Chair: TBD
    Location: TBD
    Time: 13:00 - 14:30

    Session 2c:
    Machine Learning in Energy and Climate Finance
    Chair: TBD
    Location: TBD
    Time: 13:00 - 14:30

    Carbon Pricing and Firm-Level CO2 Abatement: Evidence from a Quarter of a Century-Long Panel

    The Dynamics of Storage Costs

    Don't Lead Me This Way: Central Bank Guidance at the Age of Climate Change

    Gustav Martinsson (Royal Institute of Technology, Stockholm)
    Per Strömberg (Stockholm School of Economics)
    László Sajtos (Swedish Agency for Growth Policy Analysis)
    Christian Thomann (Royal Institute of Technology, Stockholm)

     

    Discussant: Manuel Moreno

    Andrei Stancu (Newcastle University)
    Lazaros Symeonidis (University of Essex)
    Chardin Wese Simen (University of Liverpool)
    Lei Zhao (ESCP Business School, Paris)

     

    Discussant: Lingjie Ma

    Pauline Cizmic (Université Paris-Dauphine)
    Anna Cretí (Université Paris-Dauphine)
    Marc Joëts (ESEG School of Management)

     

    Discussant: Rita Laura D'Ecclesia

    The Beneficial Impact of the EU Emissions Trading System on CO2 Emissions: A Matrix Completion Analysis

    Forecasting the price of crude oil with a structural model

    Mitigating Shortcut Learning Bias in ML: A Case Study in Energy Consumption Prediction

    Francesco Biancalani (IMT School for Advanced Studies, Lucca)
    Giorgio Gnecco (IMT School for Avanced Studies, Lucca)
    Rodolfo Metulini (University of Bergamo)
    Massimo Riccaboni (IMT School for Advanced Studies, Lucca)

     

    Discussant: Christian Thomann

    Lingjie Ma (University of Illinois)

     

    Discussant: Ioannis C. Moutzouris

    Matthew Caron (University of Paderborn)
    Johannes Kriebel (University of Muenster)
    Oliver Müller (University of Paderborn)

     

    Discussant: Pauline Cizmic

    Pricing of futures on CO2 emission allowances: an empirical approach based on seasonal mean-reverting models

    Determinants of the Price Premium for Eco Vessels

    The ESG Score and the financial statement: the European case

    Alexandra Balado-Alves (Deloitte)
    Manuel Moreno (University of Castilla-La Macha)

     

    Discussant: Francesco Biancalani

    Malvina Marchese (Bayes Business School)
    Ioannis C. Moutzouris
     (Bayes Business School)
    Nikos C. Papapostolou (Bayes Business School)
    Michael N. Tamvakis (Bayes Business School)

     

    Discussant: Lazaros Symeonidis

    Rita Laura D'Ecclesia (Sapienza University of Rome)
    Susanna Levantesi (Sapienza University of Rome)
    Kevyn Stefanelli (Sapienza University of Rome)

     

    Discussant: Johannes Kriebel

         

    Session 3a:
    Climate Preferences in the Equity Market
    Chair: TBD
    Location: TBD
    Time: 15:00-16:00

    Session 3b:
    Speculation in Energy and Carbon Markets
    Chair: TBD
    Location: TBD
    Time: 15:00-16:00

    Session 3c:
    Banking and Climate Risk
    Chair: TBD
    Location: TBD
    Time: 15:00-16:00

    Is decarbonization priced in? - Evidence on the carbon risk hypothesis from the European Green Deal leakage shock

    EU ETS Market Expectations and Rational Bubbles

    Climate Risk and Bank Capital Structure

    Lukas Müller (Technical University of Darmstadt)
    Marc Ringel (Nuertingen Geislingen University)
    Dirk Schiereck (Technical University of Darmstadt)

     

    Discussant: Arthur Stalla-Bourdillon

    Tony Klein (Queen's University Belfast)
    Robinson Kruse-Becher (University of Hagen)
    Christoph Wegener (Leuphana University Lüneburg)

     

    Discussant: Alireza Zarei

    Yassine Bakkar (Queen's University Belfast)

     

    Discussant: Jinhong Wu

    Environmental Preferences and Sector Valuations

    The Other Side of the Coin: Speculation in Bearish Natural Gas Markets

    Climate Risks and Bank Lending

    Tristan Jourde (Banque de France)
    Arthur Stalla-Bourdillon (Banque de France)

     

    Discussant: Lukas Müller

    Chanaka N. Ganepola (Alliance Manchester Business School)
    Uchenna Tony-Okeke (Coventry University)
    Alireza Zarei (Durham University)

     

    Discussant: Christoph Wegener

    Jinhong Wu (Copenhagen Business School)

     

    Discussant: Yassine Bakkar

    Keynote 2 in room 1507|002

    Time: 16:15 - 17:15

     

  • Session Overview, Saturday 04.11.2023

    Session 4a:
    Econometric Modelling of Climate Risk
    Chair: TBD
    Location: TBD
    Time: 09:00 - 10:30

    Session 4b:
    Corporate Finance, Energy and Carbon Markets
    Chair: TBD
    Location: TBD
    Time: 09:00 - 10:30

    Session 4c:
    Impact of Weather and Pollution
    Chair: TBD
    Location: TBD
    Time: 09:00 - 10:30

    Global Sea ice volume forecasts for the next 100 years using score-driven threshold climate models

    Renewable Portfolio Standards and the value of cash

    Climate and sovereign risk: the Latin American experience with ENSO events

    Szabolcs Blazsek (Francisco Marroquín University)
    Álvaro Escribano (University Carlos III of Madrid)
    Erzsébet Kristóf (Eötvös Loránd University)

     

    Discussant: Elisa Ossola

    Ning Gao (Alliance Manchester Business School)
    Wenfeng Wu (Shanghai Jiao Tong University)
    Chang Yang (Shanghai Jiao Tong University)

     

    Discussant: Santanu Kundu

    Olivier Damette (University of Lorraine)
    Clément Mathonnat (University of Lorraine)
    Julien Thavard (University of Lorraine)

     

    Discussant: Buvaneshwaran Venugopal

    Green risk in Europe

    Internal Carbon Markets and Carbon Emissions

    Pollution Risk and Business Activity

    Nuno Cassola (University of Libson)
    Claudio Morana (University of Milano-Bicocca)
    Elisa Ossola (University of Milano-Bicocca)

     

    Discussant: Tomás Del Barrio Castro

    Santanu Kundu (University of Mannheim)

     

    Discussant: Yufeng Mao

    George Zhe Tian (University of Houston)
    Buvaneshwaran Venugopal (University of Central Florida)
    Vijay Yerramilli (University of Houston)

     

    Discussant: Yoontae Jeon

    Modeling Seasonalities in Paleoclimate Data

    Decoding Corporate Green Bonds: What Issuers Do With the Money and Their Real Impact

    Weather Variance Risk Premia

    Tomás Del Barrio Castro (Universitat de les Illes Balears)

     

    Discussant: Álvaro Escribano

    Yufeng Mao (Foster School of Business)

     

    Discussant: Chang Yang

    Yoontae Jeon (McMaster University)
    Stephen Szaura (BI Norwegian Business School)

     

    Discussant: Julien Thavard

         

    Session 5a:
    Impact and Performance of Green Finance 
    Chair: TBD
    Location: TBD
    Time: 11:00 - 12:30

    Session 5b:
    Renewable Transition
    Chair: TBD
    Location: TBD
    Time: 11:00 - 12:30

    Session 5c:
    Corporate Strategy: Incentives and Inequality
    Chair: TBD
    Location: TBD
    Time: 11:00 - 12:30

    Net-Zero Transition Paths: Facts and Fiction

    Price determinants in the carbon neutral hydrogen market

    Nash Equilibria in Greenhouse Gas Offset Credit Markets

    Kateryna Chekriy (Universität Duisburg-Essen)
    Rüdiger Kiesel (Universität Duisburg-Essen)
    Gerhard Stahl (HDI Group)

     

    Discussant: Viktória Vidaházy

    José Manuel Cueto (Universidad Pontificia Comillas)
    Isabel Figuerola Ferreti (Universidad Pontoficia Comillas)
    Ignacio Segarra Tamarit (Universidad Pontificia Comillas)

     

    Discussant: George Krivorotov

    Liam Welsh (University of Toronto)
    Sebastian Jaimungal (University of Toronto)
     

     

    Discussant: Jonathan Harris

    ESG principles: The Limits to Green Benchmarking

    Assessing the Profitability of Large-Scale Batteries in the UK Electricity Market

    Green Finance and Inequality

    Charles-Henri DiMaria (STATEC Research)

     

    Discussant: Kateryna Chekriy

    Nina Lange (Technical University of Denmark)
    Stefan Røpke (Technical University of Denmark)
    Valdemar Frisgaard Øhlenschlæger (Technical University of Denmark)
    Nikolaj Hansen (Technical University of Denmark)
    Valdemar Frisgaard Øhlenschlæger (Technical University of Denmark)

     

    Discussant: Isabel Figuerola Ferreti

    Lea Tschan (University of St. Gallen)
    Ola Mahmoud (University of St. Gallen)

     

    Discussant: Liam Welsh

    The Impact of Natural Disasters on Capital Flows

    Sectoral Transition Risk in an Environmentally Extended Production Network Model

    Pricing Investor Impact

    Viktória Vidaházy (Geneva Graduate Institute)

     

    Discussant: Charles-Henri DiMaria

    George Krivorotov (Office of the Comptroller of the Currency, US Treasury)

     

    Discussant: Nina Lange

    Jonathan Harris (Total Portfolio Project)

     

    Discussant: Lea Tschan

     

  • Handout