Armon Rezai, Institute for Ecological Economics, Vienne University of Economics and Business
Johannes Emmerling, RFF-CMCC European Institute on Economics and the Environment (EIEE), Euro-Mediterranean Centre on Climate Change Foundation (CMCC)
If global warming is to stay below 2°C, there are four types of risks of assets stranding. First, a substantial part of fossil fuel reserves will be stranded at the end of the fossil era. Second, this will be true for capital of firms invested in fossil industries as well. Third, unanticipated changes in present or expected future climate policy cause instantaneous discrete jumps in today’s valuation of physical and natural capital. Fourth, if timing and intensity of climate policy are uncertain, revaluation of assets occurs as uncertainty is resolved either when announced climate policy is implemented or when it is botched at some future date. Botching immediately boosts market capitalization, exploration investment and discoveries.
12:00 pm – Welcome and introduction – Johannes Emmerling
12.05 pm – Presenter’s talk – Armon Rezai
12:30 pm – Q&A moderated by Johannes Emmerling
12:50 pm – End of Webinar
Working language: English
HOW TO PARTICIPATE
The seminar will be broadcasted via Go-to-Webinar.
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Armon Rezai is professor in the Institute for Ecological Economics at WU – Vienna University of Economics and Business. He has published widely on macroeconomic topics, such as growth and distribution, and their application to environmental problems like climate change and economic policy. He has been Fulbright Fellow, Schrödinger Fellow of the Austrian Science Fund, and academic visitor at the University of California at Berkeley, CESifo, and the FGV Sao Paulo.