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The Department of Finance at the Faculty of Law, Economics and Finance and Banque de Luxembourg are pleased to invite you to the 5th Conference in Sustainable Finance.

The event is organised within the framework of the Chair in Sustainable Finance, which is supported by the Luxembourg Ministry of Finance and the Luxembourg Ministry of Environment, Climate and Biodiversity and the FNR.

Scientific committee

Papers will be selected by the program committee consisting of members of the Department of Finance at the ����Vlog.

Programme

Wednesday, 1 July 2026

• 20.00

  Welcome dinner for presenters and discussants

  • au P’tit Max

Thursday, 2 July 2026

• 08.45 – 09.00

  Welcome (coffee)

Session 1: Implications of Carbon Risks for Firm Valuations

Chair: Denitsa Stefanova (����Vlog)

• 09.00 – 09.30

  Carbon Uncertainty and Asset Prices

  Presenter: Abraham Lioui

  Discussant: Tobias Sichert (Stockholm School of Economics)

  Co-authors: Cathy Yu-Hsuan Chen – George M. Constantinides – Nilesh Hegde

• 09.30 – 10.00

  The Labor Market Effects of Carbon Pricing

  Presenter: Gazi Kabas

  Discussant: Thorsten Martin (Frankfurt School of Finance and Management)

  Co-authors: Andreas Fuster – Vincenzo Pezone – Kasper Roszbach

• 10.00 – 10.30

  Green Q: Measuring and Valuing Green and Brown Capital

  Presenter: Kevin Schneider

  Discussant: Francesca Zucchi (European Central Bank)

  Co-authors: Ilan Cooper – Daniel Kim

• 10.30 – 11.00

  Coffee break

Session 2: Insurance markets

Chair: Benjamin Holcblat (����Vlog)

• 11.00 – 11.30

  Natural Disasters, Property Insurance, and Housing Markets

  Presenter: Nuno Clara

  Discussant: Yasmine van der Straten (Nova School of Business and Economics)

  Co-authors: Michael Boutros – Pierre Mabille

• 11.30 – 12.00

  Insuring Climate Risks in Integrated Markets

  Presenter: Jan Starmans

  Discussant: Adelina Barbalau (University of Alberta)

  Co-authors: Deeksha Gupta – Michael Sockin

• 12.00 – 14.00

  Lunch break

  • il Tocco

Session 3: Carbon Markets & Prices

Chair: Nora Paulus (����Vlog)

• 14.00 – 14.30

  Beyond Brown: Oil Shocks and Carbon Premium [online]

  Presenter: Shaojun Zhang

  Discussant: Valeri Sokolovski (University of Alberta)

  Co-author: Zhan Shi

• 14.30 – 15.00

  Private Equity and Biodiversity Offset Markets

  Presenter: Keyu Zang

  Discussant: Florian Heeb (Leibniz Institute for Financial Research SAFE)

  Co-author: Zhimin Chen

• 15.00 – 15.15

  Coffee break

The value of information and investor behavior

Chair: Patrick Augustin (McGill University)

• 15.15 – 15.45

  Strategic ESG Disclosure When Ratings Reveal Investor Preferences

  Presenter: Jan Schneemeier

  Discussant: Günter Strobl (University of Vienna)

  Co-author: Adelina Barbalau

• 15.45 – 16.30

  Doing Good by Doing Nothing? Passive Ownership and Environmental Performance

  Presenter: Theresa Spickers

  Discussant: Johannes Klausmann (University of Houston)

  Co-authors: Vidhan Goyal – Daniel Schmidt – Daniel Urban

• 16.30 – 17.00

  Tram ride to the Banque de Luxembourg

  • 14 Boulevard Royal
    L- 2449 Luxembourg

  • Tram stop: Hamilius

Keynote Presentations and Panel Discussion: Instruments for Climate Policy in a Fragmented World

Chair: Michael Halling (����Vlog)

• 17.15 – 17.20

  Welcome by the Banque de Luxembourg

• 17.20 – 17.50

  Trade Policy and International Climate Action (Keynote Presentation)

  Farid Farrokhi (Boston College)

• 17.50 – 18.20

  The economics of climate (in)action (Keynote Presentation)

  Christian Gollier (Toulouse School of Economics)

• 18.20 – 19.00

  Panel Discussion on “Instruments for Climate Policy in a Fragmented World”

  Moderator: François Koulischer (����Vlog)

  Panelists:

  • Farid Farrokhi (Boston College)
  • Christian Gollier (Toulouse School of Economics)
  • Claudia Hitaj (Ministry of the Environment, Climate and Biodiversity)
  • Pascal Husting (SteelWatch)

• 19.00

  Networking Cocktail

Contact

In collaboration with

The event is organized within the framework of the Chair in Sustainable Finance, which is supported by the Luxembourg Ministry of Finance and the Luxembourg Ministry of Environment, Climate and Biodiversity.