GreenFin academic and non academics publications
Publications in peer-reviewed journals
- Monasterolo, I., Dunz, N., Mazzocchetti, A., Essenfelder, A. (2021). Financial risk assessment and management in times of compounding climate and pandemics shocks. Brookings Institute, Future Development: https://www.brookings.edu/blog/future-development/2021/10/22/financial-risk-assessment-and-management-in-times-of-compounding-climate-and-pandemic-shocks/
- Battiston S. Monasterolo, I., Riahi, K., and van Rujiven, B. (2021). Accounting for finance is key for climate mitigation pathways. Science, 372(6545), 918-920. https://www.science.org/doi/abs/10.1126/science.abf3877
- Dunz, N., Mazzocchetti, A., Monasterolo, I., Essenfelder, A., Raberto, M. (2021). Compounding COVID-19 and climate risks: the interplay of banks’ lending and government’s policy in the shock recovery. Journal of Banking and Finance, 106303. https://www.sciencedirect.com/science/article/pii/S0378426621002582?via%3Dihub
- Ranger, N., Mahul, O., Monasterolo, I (2021). Managing the financial risks of climate change and pandemics. What we know (and don’t know). One Earth, Oct. 2021, vol. 4, issue 10, pages 1375-1385 https://www.sciencedirect.com/science/article/pii/S259033222100539X
- Naqvi, A., Monasterolo I. (2021). Assessing the cascading impacts of natural disasters in a multi-layer behavioral network framework. Scientific Reports, 11(1), 1-14. https://www.nature.com/articles/s41598-021-99343-4
- Battiston, S., Dafermos, Y., and Monasterolo, I (2021). Climate risks and financial stability. Journal of Financial Stability, vol. 54, June 2021. DOI: https://doi.org/10.1016/j.jfs.2021.100867
- Dunz, N., Naqvi, A., Monasterolo, I. (2021). Climate sentiments, transition risk, and financial stability in a stock-flow consistent model. Journal of Financial Stability, vol. 54, June 2021. https://doi.org/10.1016/j.jfs.2021.100872
- Monasterolo, I., de Angelis, L. (2020). Blind to carbon risk? An Analysis of Stock Market’s Reaction to the Paris Agreement. Ecological Economics, 170, 1-10. https://doi.org/10.1016/j.ecolecon.2019.106571
- Monasterolo, I. (2020). Embedding finance in the macroeconomics of climate change: research challenges and opportunities ahead. CESIfo Forum, 4/2020, p.25-33. https://www.cesifo.org/en/publikationen/2020/article-journal/embedding-finance-macroeconomics-climate-change-research
- Monasterolo, I. (2020). Climate change and the financial system. Annual Review of Resource Economics, Volume 12, 1-22. https://www.annualreviews.org/doi/10.1146/annurev-resource- 110119-031134
- Hafner, S., Anger-Kraavi, A., Monasterolo, I., Jones, A. (2020). Emergence of New Economics Energy Transition Models: A Review. Ecological Economics, 177, 106779. https://www.sciencedirect.com/science/article/abs/pii/S0921800919307475?via%3Dihub
Unpublished deliverables
- De Angelis, L., Duranovic, A., and I. Monasterolo (2021). Portfolios’ greenness and resilience to the COVID-19 crisis: the case of the Austrian stock market. Working paper.
- Naqvi, A., Dunz, N., Monasterolo, I. (2021). Analyzing the spillover effects of climate policies in a Stock-Flow Consistent North-South model: The case of Austria and the Western Balkans. Working paper.
- Vismara, A., Mazzocchetti A., and Monasterolo, I. (2021). Green finance policies for the low-carbon transition in Austria: challenges and on opportunities for complementarity. Working paper.
Working papers
- Gourdel, R., Monasterolo, I, Dunz, N., Mazzocchetti, A. and Parisi, L. (2021). Assessing the double materiality of climate risks in the EU economy and banking sector. ECB working paper, forthcoming, submitted to Journal of Financial Stability. Earlier version available at SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3939895&__cf_chl_captcha_tk__=pmd_2pMRUqNLR3yBmZaq5Hl4W7sFY_HD5qyoxd9O6jJrXXI-1634568335-0-gqNtZGzNAyWjcnBszQul
- Kletzan-Slamanig, D., Koeppl, A. (2021). The Evolution of the Green Finance Agenda – Institutional Anchoring and a Survey-based Assessment for Austria. WIFO Working paper series: https://www.wifo.ac.at/jart/prj3/wifo/resources/person_dokument/person_dokument.jart?publikationsid=69235&mime_type=application/pdf
- Battiston, S., Monasterolo, I. (2020). On the dependence of investor’s probability of default on climate transition scenarios. Available at SSRN (abstract_id=3743647), to be submitted to a journal in financial economics. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3743647
- Battiston, S., Monasterolo, I. (2020). The Climate spread of sovereign and corporate bonds. Available at SSRN (abstract_id=3376218). https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3376218
- Bressan, G.M, Monasterolo, I., Battiston, S. (2020). Reducing climate transition risk in central banks’ asset purchasing programs. Working paper, available at SSRN. http://dx.doi.org/10.2139/ssrn.3770192
Chapters in books
- Battiston, S., Billio, M., and Monasterolo, I. (2020). Pandemics, climate and public finance: how to strengthen socio-economic resilience across policy domains. In: A New World Post COVID-19 Lessons for Business, the Finance Industry and Policy Makers, edited by Monica Billio and Simone Varotto, Edizioni Ca’ Foscari, pag. 259-268. ISBN [ebook] 978-88-6969-442-4 | ISBN [print] 978-88-6969-443-1. https://edizionicafoscari.unive.it/it/edizioni4/libri/978-88-6969-443-1/pandemics-climate-and-public-finance/
Technical and policy reports
- Monasterolo, I., Volz, U. (2020). Addressing climate-related financial risks and overcoming barriers to scaling up sustainable investments. G20 Saudi Arabia: T20’s Task Force 2 “Climate Change and Environment” 2020: https://www.g20-insights.org/policy_briefs/addressing-climate-related-financial-risks-and-overcoming-barriers-to-scaling-up-sustainable-investment/
- Battiston, S., Guth, M., Monasterolo, I., Nuerdorfer, B., Pointner, W. (2020). The exposure of Austrian banks to climate-related transition risk. In: Austrian National Bank’s Financial Stability Report 2020. https://www.oenb.at/en/Publications/Financial-Market/Financial-Stability-Report.html
- Monasterolo, I., Battiston, S. (2020). Pricing forward-looking climate risks in financial contracts. In: Report of the Joint JRC – EBA workshop on Banking Regulation and Sustainability.
Blogposts and articles
- Mahul, O., Monasterolo, I., Ranger, N. (2021). Learning from COVID-19 and climate change: Managing the financial risks of compound shocks. World Bank blog, https://bit.ly/3zYqTdV
- Battiston, S., Monasterolo, I. (2021). Why climate mitigation scenarios should factor in transition risk. UN PRI blogpost (8/12/2021)
- Battiston, S., Monasterolo, I. (2021). Le système financier peut faire pencher la dynamique de la transition écologique d’un côté ou de l’autre. Le Monde (26/5/2021).
- Battiston, S., Monasterolo, I. (2021). Accounting for investors’ expectations in climate scenarios is vital to risk supervision. Financial Times, The Banker (21/06/2021)
- Battiston, S., Monasterolo, I. (2021). Transizione ecologica e rischio finanziario: il ruolo chiave delle aspettative. Il Sole 24 Ore (24/5/2021).
- Kletzan-Slamanig, D., ea. Klimawandel gefährdet finanzielle Stabilität. Der Standard (15/02/2021)
- Monasterolo, I. Assessing climate risks in investors’ portfolios: a journey through climate stress-testing. UN PRI blogpost (2/03/2020): https://bit.ly/3cx4Dfy
- Monasterolo, I., Volz, U. How to finance virus response in a sustainable way? Scale up synergies with the Green Deal. Euractiv (7/04/2020): https://www.euractiv.com/section/energy-environment/opinion/how-to-finance-virus-response-in-a-sustainable-way-scale-up-synergies-with-the-green-deal/
- Monasterolo, I., Volz, U. EU virus response to shape climate action. OMFIF (8/04/2020): https://www.omfif.org/2020/04/eu-virus-response-to-shape-climate-action/
- Monasterolo, I., Volz, U. Enabling EU solidarity while preserving public finances: how the EU could finance the COVID response. Financial Times (The Banker) (2/05/2020)