Find out about events organised by the Bristol Centre for Economics and Finance.
There are currently no upcoming events
Recent past events include:
Research seminar: Europe's Productivity Conundrum: Cyclical, Structural or Both?
Date: 23 April 2018
Venue: Room 6X109, Bristol Business School, UWE Bristol, Frenchay Campus, Coldharbour Lane, Bristol BS16 1QY
Further info: See presentation slides and notes for the talk.
Research seminar: The complexity approach to Post Keynesian macro modelling
Speaker: Corrado Di Guilmi
(University of Technology Sydney)
Date: 13 October 2017
Venue: Room 5X100, Bristol Business School, UWE Bristol, Frenchay Campus, Coldharbour Lane, Bristol BS16 1QY.
British Accounting & Finance Association South West Area Group Annual Conference 2017
Professor Pengguo Wang (University of Exeter), Professor
Ian Tonks (University of Bath)
Date: 7-8 September 2017
Venue: Bristol Business School, UWE Bristol
Further info: See event flyer
Office for National Statistics/UWE Bristol business breakfast 'Understanding The Digital Economy'
- Richard Heys, Deputy Chief Economist, Office for National Statistics. Slide presentation: 'Digital change in the economy'
- Felix Ritchie, Director, Bristol Centre for Economics and Finance at Bristol Business School, UWE Bristol. Slide presentation: 'Operating a business in the digital economy'
- Will James, Chairman, CIMA South West England and South Wales. Slide presentation: 'The future of finance in the digital revolution'
Date: 26 April 2017
Call for papers - EcoMod Conference
EcoMod Conference, Venice
4-6 July 2018
Special session on 'Climate risks and financial stability'
There is growing awareness among financial practitioners, regulators and central bankers of the potential negative implications of climate risks for prices and financial stability, and the need of tailored metrics and methods for portfolios’ climate-related financial disclosure. On the one hand, climate change could induce financial losses for the insurance and the banking sector as a result of climate-related events (such as droughts, hurricanes and floods). On the other hand, the transition to a low-carbon economy could lead to a re-pricing of carbon-intensive assets and thus to financial problems for companies whose revenues depend directly or indirectly on fossil fuels, with wider implications for financial stability.
Recent studies conducted both by academics and central banks show that the exposure of the financial system to climate risks is considerable (Dietz et al., 2016; Regelink et al., 2017). In particular, the first climate stress-test of financial portfolios shows that the exposure of investors’ portfolios to carbon intense assets could reach even 45% for pension funds and investment funds (Battiston et al., 2017). Moreover, such a climate-related financial risk could be amplified by financial interconnectedness, raising concerns on systemic financial stability (ESRB 2016).
In 2015, Mark Carney, the Governor of the Bank of England, pointed out that climate change is very likely to impose significant risks on prices and financial stability (Carney, 2015), a concern that was later shared by a growing number of central bankers (e.g. Villerov de Galhau, 2015; Dombret, 2017; Draghi, 2017; Signorini, 2017). Further, the G20’s Financial Stability Board established a Task Force on Climate-Related Financial Disclosure (TCFD) that has already made sector-specific recommendations to foster companies’ voluntarily disclosure of climate-related financial risks, and has also recommended new metrics and methods (e.g. climate stress-tests) to better inform their investors, lenders and insurance underwriters (TCFD, 2017). In order to mitigate climate-related financial risks, a transition to sustainable finance was advocated by the European Commission’s High Level Experts Group on Sustainable Finance (HLEG), that recommended the consideration of new policies and financial regulations (e.g. differentiated banks’ capital requirements for green and carbon-intense assets) and the introduction of green financial instruments (e.g. green bonds) and metrics for climate-related financial disclosure (HLEG 2018).
Despite this growing interest in climate risks and financial stability, academic research on these issues is still limited. In order to fill this gap, the International Conference on Economic Modelling (EcoMod) is organising a special session on ‘Climate risks and financial stability’. We welcome contributions that focus both on the physical and the transition climate-related financial risks using network analysis, agent-based approaches, macroeconomic dynamic modelling and econometric approaches. We also welcome contributions that analyse climate-related developments in the financial markets (e.g. the green bond market) and the conditions under which the gap between finance and sustainability could be reduced thanks to central banks’ policy tools (e.g. unconventional monetary policies such as the quantitative easing, and collateral framework) and macroprudential regulation (e.g. by including green supporting factors or brown penalising factors in banks’ capital requirements).
The papers that will be presented at the special session might be considered for a special issue in a top-tier finance journal (talks ongoing with the Journal of Financial Stability).