Banque de France Young Researcher Scholarship for Green Finance

Financing the transition to a low carbon economy consistent with the “well below 2 degrees Celsius” goal set out in the Paris agreement and promoting environmentally sustainable growth are among the major challenges of our time. As part of the process of responding to environmental and climate challenges, there are both opportunities and vulnerabilities for financial institutions and the financial system as a whole.

At the Paris One Planet Summit in December 2017, the Banque de France initiated the Central Banks and Supervisors Network for Greening the Financial System (NGFS). Against this background, further academic research is needed to improve our collective knowledge on the impact of climate-related risks to the financial sector and on the financing of the transition towards a low carbon global economy.

For this reason, the Banque de France has decided to fund a scholarship for young researchers aimed at advancing the frontiers of knowledge. The scholarship will be awarded at the academic conference of the Climate Finance Day to be held at the Banque de France premises on 27 November 2018.

Topics
Topics of interest include – but are not limited to – theoretically or empirically relevant work on climate change risks (physical/transition) or opportunities. The work programmes of the three NGFS workstreams provide a basis for identifying relevant topics:

• Climate-related risks measurement and mitigation by financial institutions.
• The disclosure practices of climate-related risks by corporate and financial institutions.
• The potential risk differential between “green” and “brown” assets.
• The transmission channels of climate-related risks to the economy and the financial system at the level of institutional sectors.
• Macroeconomic models to evaluate the impact of climate change on the economy.
• The possible actions of central banks to scale up the green bonds market or the greening of the financial system.

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