The Evolving Academic Field of Climate Finance

24 Pages Posted: 14 Feb 2023

See all articles by Matteo Gasparini

Matteo Gasparini

University of Oxford - Institute for New Economic Thinking at the Oxford Martin School; University of Oxford, Smith School of Enterprise and the Environment

Peter Tufano

Harvard Business School; University of Oxford, Said Business School

Date Written: January 31, 2023

Abstract

The urgency and the magnitude of climate change will affect every aspect of our economies, societies, and planet. The academic finance research has begun to study the financial implications of global warming, although this body of literature is small, has distinct geographic tilts, draws young researchers, and much remains outside of the traditional finance domain. We explore, quantitatively and qualitatively, the emerging field of climate finance. We discuss its relevance for finance research and teaching and provide implications for financial economist and practitioners - in particular the need to incorporate this massive externality in valuation and risk analyses.

Keywords: Climate Finance, Climate change. ESG, Green finance, CO2 emissions, Sustainable Finance, Climate Risk, Physical Risk, Transition Risk, Sustainable finance, Financial education

JEL Classification: G10, G20, G30, Q50, D62

Suggested Citation

Gasparini, Matteo and Tufano, Peter, The Evolving Academic Field of Climate Finance (January 31, 2023). Available at SSRN: https://ssrn.com/abstract=4354507 or http://dx.doi.org/10.2139/ssrn.4354507

Matteo Gasparini (Contact Author)

University of Oxford - Institute for New Economic Thinking at the Oxford Martin School ( email )

Manor Road Building
Oxford, OX1 3UQ
United Kingdom

University of Oxford, Smith School of Enterprise and the Environment ( email )

Peter Tufano

Harvard Business School ( email )

Soldiers Field Road
Morgan Hall 131
Boston, MA 02163
United States

University of Oxford, Said Business School

Park End Street
Oxford, OX1 1HP
Great Britain

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