It is an honor to announce that, as part of the PhD program in Economics and Finance, track Mathematics and Data Analytics for Finance, Peter Tankov, Professor of Quantitative Finance at ENSAE, Institut Polytechnique de Paris, will teach the course Environmental Finance at the University of Verona, campus Santa Marta, via Cantarane 24, room SMT04 Dates: March 25, 26; April 8, 9, 15, 16 from 4PM to 6PM. The course is in English. All interested people are warmly invited to participate COURSE AIMS The objective of this course is to present quantitative approaches to green investing, the measurement of environmental performance of investment portfolios, and the assessment and management of climate-related financial risks. The course aims to strike a balance between theory and practice. We will review key contributions from the recent academic literature and provide hands-on illustrations using real financial, economic, and climate data. By the end of the course, students should be able to: • Understand the main theoretical models of sustainable investing and climate finance. • Measure environmental performance and portfolio climate alignment. • Interpret climate scenarios and integrated assessment model outputs. • Quantify transition and physical climate risks for financial assets. • Critically assess empirical findings in the sustainable finance literature. PROGRAM The course is organized in two parts. The first part focuses on green investing and portfolio alignment. The second part addresses the measurement and management of climate-related financial risks. Part I: Green Investing • Introduction: Genesis and objectives of environmental and sustainable finance; recent ESG backlash and regulatory developments. • Data and Measurement: Data sources in green finance; measurement of firms’ environmental impact; ESG ratings and rating divergence. • Asset Pricing and Sustainable Investing: Strategies of green investing; equilibrium models of sustainable investing; relationship between green preferences and asset prices. • Impact Investing: Theoretical quantification of investor impact; empirical evidence; practical approaches to impact investing. • Portfolio Climate Alignment: Evaluation of portfolio alignment to climate scenarios; portfolio temperature metrics; construction of portfolios compatible with net-zero emissions. Part II: Climate-Related Financial Risks • Climate Models and Physical Risk: Introduction to climate modeling; link between CO2 concentrations and temperature dynamics; extraction of relevant risk information from state-of-the-art climatological models; uncertainty quantification. • Integrated Assessment Models and Transition Risk: Coupling climate dynamics with macroeconomic dynamics; role of the energy sector; role of the financial sector in the transition; scenario analysis and scenario uncertainty. • Climate Stress Testing: Supervisory stress testing frameworks; transmission channels of climate shocks; recent stress-testing exercises and their implications. Further information (prerequisites, references) are available here [https://res.public.onecdn.static.microsoft/assets/fluentui-resources/1.1.0/app-min/assets/item-types/24_3x/docx.png]Poster Corso.docx<https://univr-my.sharepoint.com/:w:/g/personal/cecilia_mancini_univr_it/IQClwRukzAeoTJmNVa15pKWrAUR4YzLR9HY84MwtPRknMJs?e=gbesaR>