Press review
IPE
"In a new position paper, Riccardo Rebonato, who is scientific director of EDHEC-Risk Climate Impact Institute, said EDHEC agreed that pension fund trustees have been poorly served by their consultants and that the models that have been used underestimate climate risk. However, he said that the models (DICE-like Integrated Assessment Models) should not be jettisoned as they can be modified to handle scenario analysis (for which they were not designed) and that it is incorrect to posit that there is an economist consensus on the severity of climate damages. At the same time, Rebonato, who is also professor of finance at EDHEC Business School, said that the degree of uncertainty about climate outcomes was “the single most important piece of information that pension trustees should be given” and yet it was exactly what was “more conspicuous for its absence in the consultants’ reports”."
2023
