This section provides access to our official communications and media presence. It includes press releases outlining key announcements, initiatives, and milestones, as well as a selection of press reviews highlighting external coverage of our work. We invite journalists, partners, and stakeholders to consult these materials for accurate and up-to-date information.
" (...) Icma è quindi l’attuale standard di mercato. C’è però una new entry europea. Da anni infatti Bruxelles sta lavorando alla normativa su un green bond Ue. Il risultato di tale lavoro è il regolamento 2023/2631 che introduce appunto l’European green bond (Eugb) e che sarà applicabile dal 21 dicembre di quest’anno. (...)
" (...)Recent research from the EDHEC-Risk Climate Impact Institution shows how valuation techniques using probabilistic modelling can estimate the effect on global equity values from climate and economic uncertainties, financial contingencies, transition costs and physical risks.
"More is needed to preserve equity value in the face of climate change, according to new EDHEC-Risk Climate Impact Institution research. to keep losses below 10 percent will require prompt and robust abatement action while over 40 percent of global equity value is at risk if decarbonisation efforts do not accelerate. One for the beach, perhaps. If it's not too hot."
"Climate change could be terrible for stock prices. That’s according to How Does Climate Risk Affect Global Equity Valuations?’, a new study by the EDHEC-Risk Climate Impact Institute. It estimates that if global warming is capped at 2 degrees, stock prices could decline less than 10 per cent. However, if close to no... (...)"
"Un rapport de l'Institut EDHEC-Risk Climate Impact offre une analyse exhaustive des effets du risque climatique sur les évaluations boursières mondiales. Ce document révèle les conséquences potentiellement dévastatrices des coûts de transition et des dommages physiques causés par le changement climatique sur la valorisation des actions, en utilisant une méthodologie novatrice et rigoureuse. (...)"
"(...) Without urgent climate action, global equity values face severe risks, with potential losses exceeding 50% due to climate tipping points, according to findings from the Edhec-Risk Climate Impact Institute. The study, conducted by Edhec, a business school and risk and investment management research centre, extended traditional valuation techniques to evaluate the impact of climate and economic uncertainties, financial contingencies, transition costs and physical risks on global equity values.(...)
"(...) Dans un communiqué de presse publié le 18 juillet, les chercheurs de l’Edhec ont présenté leurs principales conclusions, soulignant que l’impact du risque climatique sur la valeur des actions mondiales est particulièrement prononcé dans les scénarios où l’action en faveur du climat est limitée. Ils estiment que plus de 40% de la valeur des actions mondiales est menacée si les efforts de décarbonisation ne s’accélèrent pas, avec des pertes potentielles dépassant 50% lorsque les points de basculement climatiques sont pris en compte. À l’inverse, des mesures de réduction rapides et énergiques pourraient limiter les pertes à moins de 10%. (...)
"(...) De acuerdo con un nuevo estudio de Instituto de Impacto Climático EDHEC-Risk, de no hacerse más detener el calentamiento global provocado per las emisiones de gases de efecto invernadero, las valoraciones de las acciones globales se verán afectadas en un 40%. (...)
"(...) The study – How Does Climate Risk Affect Global Equity Valuations? A Novel Approach – debunks the notion that the value of global equities is immune to climate changes. (...)
"In a new study, How Does Climate Risk Affect Global Equity Valuations? A Novel Approach, EDHEC-Risk Climate Impact Institute addresses key limitations of current climate-aware valuation approaches to produce novel insights.
"(...) New research from the EDHEC-Risk Climate Impact Institute finds gaps in valuation techniques that investors rely on. Adapting a new methodology, the research team led by the institute’s scientific director Riccardo Rebonato, reports that the impact of climate risk on equity valuations could be more significant than what previous estimates suggest. (...)
"Climate risk poses ‘significant’ impact on global equity valuations, the EDHEC-Risk Climate Impact Institute has claimed, as it calls on ‘aggressive’ climate policies to preserve valuations.
" (...) Failing to do more to slow the planetary heating caused by greenhouse-gas emissions will gouge 40% from global equity valuations, estimates a new study by the EDHEC-Risk Climate Impact Institute. Accounting for climate-change-accelerating “tipping points” such as Amazon-rainforest dieback or a Big Burp of gas from melting permafrost, the market losses rise to 50%. On the other hand, if the world gets its act together and limits warming to 2 degrees Celsius above preindustrial averages, then the hit to stock prices will be just 5% to 10%.
"FAUX. Selon la dernière étude de l’Edhec Risk Climate Impact Institute, des combinaisons très plausibles de politiques et de résultats physiques peuvent avoir un impact important sur l'évaluation des actions ; et le risque de perte est beaucoup plus important que le risque d'augmentation - plus de 40 % de la valeur des actions mondiales est menacée si les efforts de décarbonation ne s'accélèrent pas et les pertes pourraient dépasser 50 % si les points de basculement cl imat iques sont proches."
"Article issu de The Conversation, écrit par Riccardo Rebonato, Professor of finance and scientific director (EDHEC-Risk Climate Impact Institute), EDHEC Business School.
“ (...) Academic think-tank the EDHEC-Risk Climate Impact Institute has found that a lack of government action on climate would wipe out global equity valuations by 40 percent, using a novel climate scenario analysis framework. The findings contrast with current climate scenario practices which have been criticised for suggesting that financial "portfolios would only be marginally impacted, even in high-temperature scenarios that pose existential challenges to our societies". Unlike conventional scenarios which look at the impact of a handful of pre-selected variables, the EDHEC-Risk analysis captures the impacts of a wider range of possible economic and climate outcomes. (...)"
"Face aux incertitudes qui entourent le changement climatique, les décideurs politiques comme les investisseurs ont besoin de savoir ce qui peut arriver et avec quel niveau de probabilité. Malheureusement, les scénarios actuels ne répondent qu’à la première question, et encore, partiellement. Les recherches menées par l’Edhec Risk Climate Impact Institute tentent d’apporter des réponses approximatives mais « exploitables » à la deuxième question. (...)
"Le 1er juillet, l'agence de notation américaine Moody's annonçait abandonner son activité de notation ESG (les critères environnementaux, sociaux et de gouvernance pour apprécier les performances et risques extra-financiers d'une entreprise) pour nouer un "partenariat stratégique" avec le fournisseur d'indice MSCI. (...)
"Analysis by France’s EDHEC Business School has concluded that, under a business-as-usual scenario – where only incremental policy interventions are made to manage the impacts of climate change – equity losses could surpass 50%. (...)
" (...) Whether they are actively engaged with carbon-intensive firms or not, many asset owners have struggled to alight on scenario analysis frameworks that offer realistic and reliable readings of climate change’s impact on the value of their equity portfolios. Faced with the many uncertainties involved in bringing high-level impacts down to the asset level, approaches built on traditional finance sector methodologies and assumptions have frequently underwhelmed investors by seemingly underplaying the financial impacts and existential risks that temperature rises pose to society. A paper from Riccardo Rebonato, Scientific Director of the EDHEC-Risk Climate Impact Institute, may provide a more credible – if sobering – alternative.
"New EDHEC-Risk Climate Impact Institution research extends valuation techniques to estimate the effect on global equity values of climate and economic uncertainties, financial contingencies, transition costs and physical risks.
"New EDHEC-Risk Climate Impact Institution research: Extends valuation techniques to estimate the effect on global equity values of climate and economic uncertainties, financial contingencies, transition costs and physical risks.
"Decision makers should pursue aggressive policies to bring climate change under control if they want to avoid losses in the value of global stocks that could top 50%, think-tank EDHEC-Risk Climate Impact warned in a 74-page paper published on Wednesday.(...)
"Une étude récente du groupe de réflexion EDHEC-Risk Climate Impact indique que les valeurs boursières mondiales pourraient subir de graves pertes si des mesures énergiques ne sont pas prises pour lutter contre le changement climatique. Le rapport de 74 pages, publié mercredi, souligne les risques financiers potentiels associés au changement climatique, notamment les dommages physiques et les coûts de transition qui pourraient avoir une incidence importante sur la valeur des actions. (...)
"Les décideurs devraient mettre en œuvre des politiques agressives pour maîtriser le changement climatique s'ils veulent éviter des pertes de valeur des actions mondiales qui pourraient atteindre 50 %, a averti le groupe de réflexion EDHEC-Risk Climate Impact dans un document de 74 pages publié mercredi.(...)
"L’agence de rating américaine va progressivement abandonner son activité de notation ESG, celle-là même qu’elle avait acquise en rachetant le français Vigeo en 2019. Une décision qui devrait avoir d’importantes répercussions sur les investisseurs responsables. (...)
“Moody's impending exit from the ESG ratings space could accelerate consolidation within the ESG ratings sector, put upward pressure on prices, and leave a gap in the market, according to users. (...)
"(...) L'impact de ces politiques d'investissement sur la capacité de financement des entreprises du secteur pétrolier est difficile à mesurer précisément, étant donné la multiplicité des facteurs en jeu. D'autant que sur le marché secondaire, lorsqu'un investisseur vend son action, un autre l'achète, ce qui limite la pression à la baisse sur le cours du titre. Néanmoins, la recherche académique tend à valider l'hypothèse d'un impact. "Les travaux théoriques font le lien explicite entre le développement de l'investissement verts d'un côté et l'évolution du coût du capital et/ou de l'activité des industries polluantes de l'autre, et les résultats empiriques sont cohérents avec les prédictions des modèles" note Frédéric Ducoulombier, directeur de Climate Impact Institute.
"Faced with the uncertainties surrounding climate change, policymakers and investors need to know what can happen and how likely these outcomes may be. Unfortunately, current scenarios answer only the first question – and at that, only partially. Research carried out at the EDHEC Risk Climate Institute tries to provide approximate but “actionable” answers to the second. (...)
" (...)The new plan outlines the school’s actions through 2028 with an eye to the year 2050 – a milestone for both the planet and EDHEC itself. 2050 is the target year set by many governments, scientists, and organizations to reach net-zero carbon emissions or risk grave climate consequences. 2050 is also the year that babies born in the next four years will come to and graduate from EDHEC.
" (...)Conviene a un’azienda finanziarsi con un green bond? La risposta è sì perché c’è il greenium. Quest’ultimo non è altro che il prezzo più alto che gli investitori sono disposti a pagare per un’obbligazione verde rispetto a quelle tradizionali. Differenza di prezzo che può oscillare tra i 4,5 e 5 punti base a condizione, però, che vi sia la second party opinion ovvero la validazione di una società terza indipendente. Tutto ciò emerge da uno studio realizzato da quattro professori universitari che hanno analizzato 3mila green bond. I prof in questione sono Marco Ghitti (Università di Padova), Gianfranco Gianfrate e Marco Spinelli (Edhec) e Florencio Lopez-de-Silanes (Nber). (...)
"(...)Un obstáculo para definir el lavado verde – greenwashing – es que la mayoría de los informes de desempeño ambiental son voluntarios y no están auditados. El profesor Gianfrate espera que sean necesarias dos décadas o más de resistencia, lobby y compromiso antes de que se pueda implementar adecuadamente un sistema adecuado de presentación de informes con sanciones y castigos.
"Riccardo Rebonato, professor at EDHEC Business School doesn't believe climate change will trigger a Minsky moment, he explains why investors should still be wary of current valuations
"(...)Opponents of mandatory Scope 3 emissions reporting, who say that it is “unfeasible” or “too costly”, are “confusing the symptoms for the cause”, says a report by France-based academic think-tank the EDHEC-Risk Climate Impact Institute. (...)
"The role of business in the global effort to combat climate change is becoming increasingly essential. And for good reason: since the start of the industrial revolution, more than two thirds of global emissions have been produced by large companies.
"(...)avant toute chose, les entreprises doivent évaluer leurs émissions directes et indirectes de carbone, qu’elles proviennent de leurs propres sources, de leur consommation d’énergie, des opérations de leur chaîne d’approvisionnement ou de la gestion des déchets. Par « émissions directes » on désigne celles qui résultent de sources détenues ou contrôlées par l’entreprise, comme les émissions produites lors de la combustion dans les chaudières d’une entreprise ou de son parc automobile. Les émissions indirectes proviennent de la consommation d’énergie achetée par l’entreprise, comme l’électricité, la chaleur ou le froid. Enfin, d’autres émissions indirectes sont issues de la chaîne d’approvisionnement, lors du transport des matériaux ou de l’élimination des déchets. (...)
"In this EDHEC-Risk Climate Impact Institute issue of Research for Institutional Money Management, we present groundbreaking research extending climate scenario analysis.
"(...)La nébuleuse autour du scope 3 tarde à s’éclaircir. Dans un nouveau rapport publié ce 28 mars, l’EDHEC-Risk Climate Impact Institute dresse un état des lieux à 360° sur la prise en compte des émissions de gaz à effet de serre de scope 3, qui concernent toute la chaîne de valeur d’une entreprise. Malgré une importante hausse de ces publications volontaires, l'étude constate que les rapports “restent trop souvent un exercice de greenwashing, sont incomplets et ciblent peu les sources matérielles”. Cela, alors que ces données restent encore “naïvement” utilisées par les gérants d’actifs. Un manque de précaution que relevait en juin dernier l’Autorité des Marchés Financiers (AMF) après un contrôle SPOT relatif aux données extra-financières.(...)
" EDHEC Business School in France announced this week (March 18) the launch of a new MBA, 100% online. It will have two intakes per year, the first beginning this fall with another in spring. Each will enroll about 20 students.(...)
" (...)These courses and certifications have been designed to teach the principles and concepts of sustainable finance and ESG Investing and help you become a leader in the field.(...)
" (...)«Se Donald Trump vincerà la corsa alla presidenza degli Stati Uniti penso che potrebbe fare un passo deciso nel divieto a investire in modalità Esg – afferma Gianfranco Gianfrate, docente di finanza all’Edhec Business School in Francia –. Alcune grandi società di asset management hanno annusato l’aria e hanno deciso di riposizionarsi». Si spiega così la fuga dalle alleanze contro il climate change di alcuni grandi gruppi finanziari. Decisioni che hanno mandato in frantumi, in particolare, la Net Zero Insurance Alliance, passata da 30 a 11 componenti.La stessa ClimateAction100+ sta perdendo pezzi. Non sembra, per ora, mostrare segni di crisi la Nzba, l’alleanza per il Net-Zero creata dagli istituti bancari. (...)
"The Securities and Exchange Commission (SEC) approved major new rules on climate disclosure yesterday, but experts say they won’t be enough to satisfy investor demand for sustainability information. (...)
“ (...) Corporates urgently need to get their own houses in order – to determine and then begin reducing the emissions they have direct control over,” Ofir Eyal, director at consultancy Marakon, said in statement. “It’s been a case of willing procrastination for too many businesses, which have used the complexity involved in calculating Scope 3 emissions as an excuse for delaying the development of a meaningful strategy to reduce their direct emissions.
"The US Securities and Exchange Commission has voted to adopt the country’s first federal requirements for public companies to disclose information on their climate-related risks and greenhouse gas emissions.
" A groundbreaking White Paper titled “Climate Scenario Analysis and Stress Testing for Investors: A Probabilistic Approach,” authored by Professor Rebonato and his team, has introduced an innovative method for augmenting climate scenarios with probabilistic information. This approach is set to revolutionize how financial professionals assess and manage climate-related risks.(...)
