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The Department of Finance at the 8xav�������� of Luxembourg organizes the 2nd Conference in Sustainable Finance on 6 July 2023, in Luxembourg (in-person). The academic conference is hosted by the Sustainable Finance Chair, which is supported by the Ministry of Finance and the Ministry of Environment, Climate and Sustainable Development of Luxembourg.

The conference will offer an engaging social program starting with a welcome dinner on the evening of 5 July 2023, and a conference reception on 6 July 2023.

8.30-8.45 Welcome (coffee)

8.45-9.00 Welcome by Professor Simone Niclou, Vice-Rector for Research at the 8xav�������� of Luxembourg

Session 1 (from 9.00 to 10.30): Firm-Level Management of ESG

• Chair
  
  Christos Koulovatianos (8xav�������� of Luxembourg)

  • 

    Prof. Dr. Christos KOULOVATIANOS

    Full professor

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• 9.00 – 9.30
  
  Sustainable Organizations

  Thomas Geelen – Jakub Hajda – Jan Starmans
  Discussant: Salvatore Miglietta (BI Oslo)

• 9.30 – 10.00
  
  Dynamic Carbon Emission Management

  M. Cecilia Bustamante – Francesca Zucchi
  Discussant: Lin SHEN (INSEAD)

• 10.00 – 10.30
  
  Private Equity and Gas Emissions: Evidence from Electric Power Plants

  Xuanyu Bai – Youchang Wu
  Discussant: Charlotte Ostergaard (Copenhagen Business School)

• 10.30 – 11.00

  Coffee Break

Session 2 (from 11.00 to 12.30): ESG Investing

• Chair
  
  Diane Pierret (8xav�������� of Luxembourg)

  • 

    Diane PIERRET

    Assistant professor

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• 11.00 – 11.30
  
  Investments that Make our Homes Greener: The Role of Regulation

  Nuno Clara – Joao F. Cocco – Lakshmi Naaraayanan – Varun Sharma
  Discussant: Kornelia Fabisik (8xav�������� of Bern)

• 11.30 – 12.00
  
  Limits of Equilibrium ESG Investing

  Andrei Kirilenko – Christoph Loch
  Discussant: Yrjo Koskinen (8xav�������� of Calgary)

• 12.00 – 12.30
  
  Reducing Carbon using Regulatory and Financial Market Tools

  Franklin Allen – Adelina Barbalau – Federica Zeni
  Discussant: Ulf von Lilienfeld-Toal (8xav�������� of Luxembourg)

• 12.30 – 14.00

  Lunch Break

Session 3 (from 14.00 to 15.00): The limits of divestment

• Chair
  
  Roberto Steri (8xav�������� of Luxembourg)

  • 

    Roberto STERI

    Assistant professor in Empirical Finance

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• 14.00 – 14.30
  
  Why Divest? The Political and Informational Roles of Institutions in Asset Stranding

  Murray Carlson – Adlai Fisher – Ali Lazrak
  Discussant: Thomas Geelen (Copenhagen Business School)

• 14.30 – 15.00
  
  Socially Responsible Divestment

  Alex Edmans – Doron Levit – Jan Schneemeier
  Discussant: Abraham Lioui (EDHEC)

• 15.00 – 15.15

  Coffee Break

Session 4 (from 15.15 to 16.15): Mutual Funds and ESG Disclosure

• Chair

  Luciano A. Somoza (ESSEC Business School)

• 15.15 – 15.45
  
  Catering through transparency: Voluntary ESG disclosure by asset managers and fund flows

  Marco Ceccarelli – Simon Glossner – Mikael Homanen
  Discussant: Moqi Groen-Xu (Queen Mary 8xav�������� of London)

• 15.45 – 16.15
  
  The Market for ESG Ratings

  Ehsan Azarmsa – Joel Shapiro
  Discussant: Raphael Levy (HEC Paris)

Keynote Presentations and Panel Discussion: Designing Green Financial Markets of the Future at Banque de Luxembourg

• Chair
  
  François Koulischer (8xav�������� of Luxembourg)

  • 

    François KOULISCHER

    Assistant professor in Sustainable Finance

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• 17.15 – 17.20

  Welcome by Luc Rodesch (Banque de Luxembourg)

• 17.20 – 17.50

  Green Bonds,  (Columbia 8xav��������), Keynote Presentation

• 17.50 – 18.20

  The Impact of Impact Investing,  (Stanford 8xav��������), Keynote Presentation

• 18.20 – 19.00
  
  Panel Discussion on “Designing Green Financial Markets of the Future”

  Moderator: Michael Halling (8xav�������� of Luxembourg)

  Panelists:

  • Jonathan Berk (Stanford 8xav��������)
  • Jean-Marc di Cato (CRO of the Clearstream Group Luxembourg)
  • Caroline Flammer (Columbia 8xav��������)

For any question regarding the conference, contact François Koulischer or Michael Halling.