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Climate Risks and Asset Returns

发布人：匿名 发布日期：2023-10-09阅读次数：20

Speaker：LI Weikai（Assistant Professor, Singapore Management University）

Inviter：Zeng Yan, Professor, Lingnan College

Time and Date：14:30, Dec. Mar. 17, 2023

Venue: Wong Bing-lay Conference room,Lingnan hall

Language: English + Chinese

 

Abstract:

I review the fast growing literature that examines the question of whether climate change risks are sufficiently priced in various financial assets, including both physical risks and transition risks. This question is important because pricing climate risks properly today reduces the possibility of wealth transfers between uninformed and sophisticated investors. Studies have documented evidence consistent with risk-based asset pricing theories, but also mis-reactions to climate risks in many circumstances. Overall, findings vary by the types of climate risks (physical vs. transition risks), the specific asset classes (equity vs. bond), the horizon over which risks are examined (short-run vs. long-term), and investors’ awareness or attention to climate change issues.

 

Profile of the speaker 

Education

2017 Ph.D. in Finance, Hong Kong University of Science and Technology
2012 MSc in Finance, Tulane University                                                                                             
2011  B.A. in Economics, Zhejiang University                                                                                                                               

Current Position(s) Held

Jul 2017 - Now  Assistant Professor of Finance
Lee Kong Chian School of Business, Singapore Management University