5TH INTERNATIONAL SYMPOSIUM ON ENVIRONMENT ENERGY & FINANCE ISSUES
22 & 23 MAY
IPAG BUSINESS SCHOOL - 184 BD SAINT-GERMAIN - 75006 PARIS
IN PARTNERSHIP WITH
Paris Nice Kunming Los Angeles
in partnership with
5th International Symposium on Environment and Energy Finance Issues (ISEFI-2017) co-organized by IPAG Energy Economics Center, IPAG Business School and CGEMP, University of Paris Dauphine
May 22-23, 2017 IPAG Business School
184, Boulevard Saint-Germain, 75006 Paris
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CONFERENCE OVERVIEW The 5th International Symposium on Environment and Energy Finance Issues (ISEFI-2017), jointly organized by the IPAG Energy Economics Center (IPAG Business School) and the Centre of Geopolitics of Energy and Raw Materials (Paris Dauphine University) with the support of the International Association for Energy Economics (IAEE), will take place on 2223 May 2017 in Paris, France. It aims to provide academics, policymakers, and practitioners with a valuable forum for discussion and critical analysis of the major issues and challenges that interrelate energy, environment, macroeconomics and financial markets. The conference organizers welcome submissions of both theoretical and empirical papers relating to all aspects of energy markets and their interactions with financial markets. The topics of interest include, but not limited to: • • • • • • • • • • • • • • • • • • • • • • • •
Climate negotiations and scenarios for a +2° world Corporate finance analysis for energy companies Econometrics of energy markets Energy and climate models Energy and environment Energy derivatives: pricing and hedging Energy and financial market interactions Energy issues in developing and emerging markets Energy policies for low carbon transportation Energy prices: modeling and forecasting Energy risks: assessment and modeling Electricity networks, smart-grids, electricity demand Financial and economic analysis of energy markets Financial regulation of energy and environmental markets Finance and investment in renewable energy Intergenerational choices under global environmental change Hydroelectricity and water management Natural resources, risk, welfare and social preferences Oil and shale gas Poverty and environmental impacts of electricity price reforms Renewable and low carbon technologies policy Speculation and energy prices State regulation and energy governance Transportation charges in oil and natural gas industries
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KEYNOTE SPEAKERS
Professor Amy Myers Jaffe, University of California, United States A leading expert on the geopolitics of oil and gas, energy security and risk and an influential thought leader on global energy policy, sustainability, Amy Myers Jaffe is executive director for Energy and Sustainability at University of California, Davis and a frequent keynote speaker at major energy industry and investment conferences and board of directors meetings. A widely quoted commentator on energy and the environment in international media who has provided testimony on Capital Hill, Jaffe appears regularly on a variety of television and print media, including CNN, The NewsHour with Jim Lehrer, FOX, Al-Jazeera TV, MSNBC, National Public Radio, the Wall Street Journal and the Financial Times of London. Her writings have been featured by the New York Times, Dow Jones International, and Petroleum Intelligence Weekly. She has a regular blog at the Houston Chronicle and is a contributor on energy and climate change to the Wall Street Journal’s blog The Experts. Jaffe currently serves as a member of the Global Agenda Council on New Energy Architecture with the World Economic Forum (Davos), as an advisory board member of GE Ecoimagination and as a technical committee member on shale gas for the Union of Concerned Scientists and California’s Council on Science and Technology. A contributor to Foreign Policy magazine’s “21 Solutions to Save the World” and recipient of the Award for Excellence in Energy Writing by the International Association for Energy Economics, Jaffe was named to Esquire’s annual 100 Best and Brightest and Elle Magazine’s Women for the Environment. Jaffe’s research focuses on oil and natural gas geopolitics, strategic energy policy, alternative fuel (for the state of California and beyond), corporate investment strategies in the energy sector, sustainability and risk and energy economics.
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KEYNOTE SPEAKERS
Professor Richard S.J. Tol, University of Sussex, United Kingdom Richard S.J. Tol is a Professor at the Department of Economics, University of Sussex and the Professor of the Economics of Climate Change, Institute for Environmental Studies and Department of Spatial Economics, Vrije Universiteit, Amsterdam, the Netherlands. He is a member of the Academia Europaea. Previously, he was a Research Professor at the Economic and Social Research Institute, Dublin, the Michael Otto Professor of Sustainability and Global Change at Hamburg University and an Adjunct Professor, Department of Engineering and Public Policy, Carnegie Mellon University, Pittsburgh, PA, USA. He has had visiting appointments at the Canadian Centre for Climate Research, University of Victoria, British Colombia, at the Centre for Social and Economic Research on the Global Environment, University College London, and at the Princeton Environmental Institute and the Department of Economics, Princeton University. Richard received an M.Sc. in econometrics (1992) and a Ph.D. in economics (1997) from the Vrije Universiteit Amsterdam. He is ranked among the top 150 economists in the world, and has over 200 publications in learned journals (with 100+ co-authors), one book, three edited volumes, and many minor publications. He specialises in the economics of energy, environment, and climate, and is interested in tourism and scientometrics.
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CONFERENCE CO-CHAIRS & ORGANIZERS Anna Creti (co-chair), University of Paris Dauphine & Ecole Polytechnique Khaled Guesmi (co-chair), IPAG Business School Lutz Kilian (co-chair), University of Michigan Duc Khuong Nguyen, IPAG Business School & Indiana University Ingmar Schumacher, IPAG Business School Eric Strobl, Aix-Marseille School of Economics & IPAG Business School Cees Withagen, IPAG Business School & VU University
SCIENTIFIC COMMITTEE René Aid, FIME-University of Paris Dauphine & EDF Albert Banal-Estanol, Universitat Pompeu Fabra Derek Bunn, London Business School Julien Chevallier, University of Paris 8 & IPAG Business School Anna Creti, University of Paris Dauphine and Ecole Polytechnique George Filis, Bournemouth University Stéphane Goutte, University of Paris 8 Khaled Guesmi, IPAG Business School Shawkat Hammoudeh, Drexel University Fatih Karanfil, University of Paris West Nanterre la Défense Lutz Kilian, University of Michigan, United States Matteo Manera, University of Milano-Bicocca Olivier Massol, IFP School Duc Khuong Nguyen, IPAG Business School & Indiana University Michel Robe, American University Andrea Roncoroni, ESSEC Business School Luca Taschini, London School of Economics Perry Sadorsky, York University Ingmar Schumacher, IPAG Business School Benoît Sévi, University of Nantes Eric Strobl, Aix-Marseille School of Economics & IPAG Business School Stefan Trueck, Macquarie University, Australia Cees Withagen, IPAG Business School & VU University Jian Yang, University of Colorado Denver Peng Zhou, UCLA Institute of the Environment and Sustainability & Nanjing University of Aeronautics and Astronautics, China
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CONFERENCE VENUE IPAG Business School 184, Boulevard Saint-Germain 75006 Paris Phone: +33 (0)1 53 63 36 00 Fax: +33 (0)1 45 44 40 46
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PRACTICAL INFORMATION
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Program at a Glance
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Monday, May 22, 2017 08:00am – 08:45am Registration & Coffee
Amphitheatre
08:45am – 09:00am Opening and Welcome Note By Anna Creti (University Paris Dauphine-LEDA CGEMP Amphitheatre and Ecole Polytechnique), Khaled Guesmi (IPAG Business School), and Lutz Kilian (University of Michigan) 09:00am – 10:30am Parallel Session A Session A1 Session A2 Session A3 Session A4 Session A5
Amphitheatre Room 1 Room 2 Room 3 Room 4
10:30am – 11:00am Coffee Break
Amphitheatre
11:00am – 12:30pm Parallel Session B Session B1 Session B2 Session B3 Session B4 Session B5
Amphitheatre Room 1 Room 2 Room 3 Room 4
12:30pm – 02:00pm Lunch Break
Café Louise
02:00pm – 03:00pm Keynote Lecture I By Professor Richard S.J. Tol, University of Sussex, United Amphitheatre Kingdom 03:00pm – 03:15pm Coffee Break
Amphitheatre
03:15pm – 04:45pm Parallel Session C Session C1 Session C2 Session C3 Session C4 Session C5
Amphitheatre Room 1 Room 2 Room 3 Room 4
04:45pm – 05:00pm Coffee Break
Amphitheatre
05:00pm – 06:30pm Parallel Session D Session D1 Session D2 Session D3 Session D4 Session D5
Amphitheatre Room 1 Room 2 Room 3 Room 4
07:30pm – 11:00pm Conference Dinner
House of Latin America
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Tuesday, May 23, 2017 08:00am – 09:00am Registration & Coffee
Amphitheatre
09:00am – 10:30am Parallel Session E Session E1 Session E2 Session E3 Session E4 Session E5
Amphitheatre Room 1 Room 2 Room 3 Room 4
10:30am – 11:00am Coffee Break
Amphitheatre
11:00am – 12:30pm Parallel Session F Session F1 Session F2 Session F3 Session F4 Session F5
Amphitheatre Room 1 Room 2 Room 3 Room 4
12:30pm – 02:00pm Lunch Break
Café Louise
02:00pm – 03:00pm Keynote Lecture II By Professor Amy Myers Jaffe, University of California, United States
Amphitheatre
03:00pm – 03:15pm Coffee Break
Amphitheatre
03:15pm – 04:45pm Parallel Session G Session G1 Session G2 Session G3 Session G4 Session G5
Amphitheatre Room 1 Room 2 Room 3 Room 4
04:45pm – 05:00pm Closing
Amphitheatre
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Detailed Program
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Monday, May 22, 2017 08:00am – 08:45am
Registration & Coffee
08:45am – 09:00am
Opening and Welcome Note
09:00am – 10:30am
Parallel Sessions A
09:00am – 10:30am
Session A1: Oil Price Modelling and Forecasting I Chair: Lutz Kilian, University of Michigan, USA
09:00am – 09:20am
Forecasting oil prices Stavros Degiannakis, Panteion University of Social and Political Sciences & Hellenic Open University, Greece George Filis, Panteion University of Social and Political Sciences, Greece
09:20am – 09:40am
Forecasting the real price of oil - Time-variation and forecast combination Christoph Funk, Giessen University, Germany
09:40am – 10:00am
Asymmetries in the responses of job flows to oil price shocks Mohamad B. Karaki, Lebanese American University, Lebanon
10:00am – 10:20am
Lower oil prices and the U.S. economy: Is this time different Christiane Baumeister, University of Notre Dame, USA Lutz Kilian, University of Michigan, USA
09:00am – 10:30am
Amphitheatre
Session A2: Natural Resources in Environmental Room 1 Economics Chair: Cuong Le Van, IPAG Business School & Paris School of Economics, France
09:00am – 09:30am
Competition for natural resources and the hold-up problem Sebastian Kessing, University of Siegen, Germany Carsten Hefeker, University of Siegen, Germany
09:30am – 10:00am
Optimal investment problem in management production of oil exploitation under constraints of resource availability and operating costs Stéphane Goutte, University of Paris 8, France Idris Kharroubi, University Paris Dauphine, France Thomas Lim, ENSSIE, France
10:00am – 10:30am
Transitional dynamics in an R&D-based growth model with natural resources Thanh Le, University of Flinders, Australia Cuong Le Van, IPAG Business School & Paris School of Economics, France
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09:00am – 10:30am
Session A3: Global Carbon Markets Room 2 Chairs: Luca Taschini, London School of Economics and Political Science, UK and Anna Creti, University Paris Dauphine, France
09:00am – 09:20am
Emission benchmarks revisited – how to fully restore economic incentives in emissions trading Vera Zipperer, DIW Berlin, Germany Misato Sato, London School of Economics and Political Science, UK Karsten Neuhof, DIW Berlin, Germany
09:20am – 09:40am
Assessing the implementation of the market stability reserve Corine Chaton, EdF R&D, France Anna Creti, University Paris Dauphine, France Maria-Eugenia Sanin, University of Evry Val d’Essonne & Ecole Polytechnique, France
09:40am – 10:00am
European carbon market: Lessons on the impact of a market stability reserve on carbon emissions and on the carbon price in Europe Raphael Trotignon, Climate Economics Chair, France Simon Quemin, CGEMP-LEDa, Paris-Dauphine University, France Boris Solier, Climate Economics Chair, France
10:00am – 10:20am
Multilateral and costly linkages between emissions trading systems Baran Doda, London School of Economics and Political Science, UK Simon Quemin, Paris-Dauphine University, France Luca Taschini, London School of Economics and Political Science, UK
09:00am – 10:30am
Session A4: Financial and Economic Analysis of Energy Markets I Chair: Baran Doda, London School of Economics, UK
Room 3
09:00am – 09:30am
2007/08 fossil fuels shock and its causal effects on European power markets Lucia Morales, Dublin Institute of Technology, Ireland James Hanly, Dublin Institute of Technology, Ireland
09:30am – 10:00am
OPEC, Saudi Arabia, and shale: Insights from equilibrium modelling and oil politics Dawud Ansari, German Institute for Economic Research, Germany
10:00am – 10:30am
Energy policy and the power sector in the long run Baran Doda, London School of Economics, UK
09:00am – 10:30am 09:00am – 09:30am
Session A5: Renewable and Low Carbon Technology Room 4 Policy I Chair: Michael Jefferson, ESCP Europe Business School, France Antidumping and feed-in tariffs as good buddies? Modeling the EU-China solar panel dispute Patrice Bougette, University of Côte d’Azur & CNRS, France Christophe Charlier, University of Côte d’Azur & CNRS, France 15
09:30am – 10:00am
Investment in energy efficiency, adoption of renewable energy and household behaviour: Evidence from OECD countries Prudence Dato, Savoie Mont Blanc University, France
10:00am – 10:30am
Renewable and low carbon technologies policy Michael Jefferson, ESCP Europe Business School, France
10:30am – 11:00am
Coffee Break
11:00am – 12:30pm
Parallel Sessions B
11:00am – 12:30pm
Session B1: Environmental Economics I Amphitheatre Chair: Ingmar Schumacher, IPAG Business School, France
11:00am – 11:30am
An economic theory of ethical consumer culture and sustainable technological change Emeline Bezin, PSE, France & IRES, Belgium
11:30am – 12:00pm
Preventing environmental disasters: Market-based vs. commandand-control policies Francesco Lamperti, Sant’Anna School of Advanced Studies, Italy Mauro Napoletano, OFCE & SKEMA Business School, France & Scuola Superiore Sant'Anna di Pisa, Italy Andrea Roventini, Sant'Anna School of Advanced Studies, Italy
12:00pm – 12:30pm
The importance of considering optimal government policy when social norms matter for the private provision of public goods Ingmar Schumacher, IPAG Business School, France Guy Meunier, INRA, France
11:00am – 12:30pm
Session B2: Climate Negotiations and Scenarios for a Room 1 +2° World Chair: Tom Kompas, Australian National University, Australia
11:00am – 11:30am
Welfare implications of EU effort sharing decision and possible impact of a hard Brexit Frédéric Babonneau, ORDECSYS, Switzerland Alain Haurie, ORDECSYS, Switzerland Marc Vielle, Laboratoire d'Economie Urbaine et de l'Environnement (LEURE), Switzerland
11:30am – 12:00pm
Reforming the EU emission trading scheme to avoid lock in of emissions in the power sector: Pros and cons of different approaches Fabien Roques, University Paris IX - Paris Dauphine, France Guillaume Duquesne, Compass Lexecon Emmanuel Grand, FTI Consulting, France Yves le Thieis, Compass Lexecon, France
12:00pm – 12:30pm
The ‘curse of dimensionality’ resolved: The effects of climate
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change and trade barriers in large dimensional modelling Tom Kompas, Australian National University, Australia Pham Van Ha, Australian National University, Australia
11:00am – 12:30pm
Session B3: Corporate Finance Analysis for Energy Room 2 Companies I Chair: Michael Flaherty, The New School for Social Research, USA
11:00am – 11:30am
Forecasting stock prices with corporate earnings, dividends and the oil price: Empirical evidence from the US oil industry Tobias Basse, NORD/LB, Germany Frederik Kunze, NORD/LB, Germany Hans-Jörg Von Mettenheim, Leibniz Universität Hannover, Germany Christoph Wegener, IPAG Business School, France
11:30am – 12:00pm
Financing climate policies through climate bonds - A three stage model and empirics Michael Flaherty, The New School for Social Research, USA Arkady Gevorkyan, The New School for Social Research, USA Siavash Radpour, The New School for Social Research, USA Willi Semmler, The New School for Social Research, USA
12:00pm – 12:30pm
The impact of economic fundamental variables on systematic risk: An analysis of the oil sector Manuela Schöner, Frankfurt School of Finance and Management, Germany Ronald Huisman, Erasmus University Rotterdam, Netherlands
11:00am – 12:30pm
Session B4: Energy and Financial Market Interactions Room 3 I Chair: Julien Chevallier, University of Paris 8 & IPAG Business School, France
11:00am – 11:30am
The impact of major oil, financial and uncertainty factors on sovereign CDS spreads: Evidence from GCC, oil-exporting countries and regional markets Nader Naifar, Al Imam Mohammad Ibn Saud Islamic University, Saudi Arabia Syed Jawad Hussain Shahzad, Montpellier Business School, France Shawkat Hammoudeh, Lebow College of Business, USA
11:30am – 12:00pm
Signaling by early stage startups: US government research grants and venture capital funding Alfred Marcus, University of Minnesota Carlson School of Management, USA Mazhar Islam, Tulane University, USA Adam Fremeth, Richard Ivey School of Business University of Western Ontario, Canada
12:00pm – 12:30pm
Time-varying energy and stock market integration Jonathan Batten, Monash University, Australia Harald Kinateder, University of Passau, Germany Peter Szilagyi, Central European University, Hungary
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Niklas Wagner, University of Passau, Germany 11:00am – 12:30pm
Session B5: Econometrics of Energy Markets I Chair: Khaled Guesmi, IPAG Business School, France
11:00am – 11:30am
Capturing long-term coupling and short-term decoupling crude oil and natural gas prices Hayette Gatfaoui, IESEG School of Management, France
11:30am – 12:00pm
Identifying the long-term volatility drivers of commodity markets Duc Khuong Nguyen, IPAG Business School, France & Indiana University, USA Thomas Walther, Technische Universitat Dresden, Germany
12:00pm – 12:30pm
Commodities and stock markets transmission mechanisms: Financialization, contagion or both? Olfa Kaabia, INSEEC Paris Business School, France Ilyes Abid, EM-Normandie, France Anna Creti, École Polytechnique, France Khaled Guesmi, IPAG Business School, France
12:30pm – 02:00pm
Lunch Break (155 Boulevard Saint Germain, 75006 Paris)
Keynote Lecture I Professor Richard S.J. Tol, University of Sussex, United Kingdom
02:00pm – 03:00pm
03:00pm – 03:15pm
Room 4
Amphitheatre
Coffee Break
03:15pm – 04:45pm
Parallel Sessions C
03:15pm – 04:45pm
Session C1: Environmental Economics II Amphitheatre Chair: Massimiliano Mazzanti, University of Ferrara, Italy
03:15pm – 03:45pm
Why are rented dwellings less energy-efficient? Mateus Nogueira Meirelles de Souza, University of Illinois at Urbana Champaign, USA
03:45pm – 04:15pm
Carbon stranded assets: New devices for alleviating the Earth’s absorptive capacity Julien Chevallier, University of Paris 8 & IPAG Business School, France Stéphane Goutte, University of Paris 8, France
04:15am – 04:45pm
Endogenous green technology and induced policy effects: Testing direct and indirect impacts Alessio D’Amato, Università di Roma Tor Vergata, Italy
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Massimiliano Mazzanti, University of Ferrara, Italy Francesco Nicolli, University of Ferrara, Italy 03:15pm – 04:45pm
Session C2: Empirical Studies in Environmental Room 1 Economics I Chair: Eric Strobl, Aix-Marseille School of Economics & IPAG, France
03:15pm – 03:35pm
Emissions and growth: Trends and cycles in a globalized world Gail Cohen, National Academy of Sciences, Engineering, and Medicine, USA Joao Jalles, IMF, USA Prakash Loungani, IMF, USA Ricardo Marto, IMF, USA
03:35pm – 03:55pm
Assessing the gas networks utilisation and financial performance in a low carbon energy system Conor Hickey, University College Cork, Ireland Paul Deane, University College Cork, Ireland Celine Mcinerney, University College Cork, Ireland Brian O'gallachoir, University College Cork, Ireland
03:55pm – 03:15pm
Exploring the link between energy based taxes and economic growth Mahmoud Hassan, University of Angers, France Walid Oueslati, University of Angers, France Damien Rousselière, University of Angers, France
04:15am – 04:35pm
Energy infrastructure in Sub-Saharan Africa: A firm level analysis Matthew Cole, University of Birmingham, UK Robert Elliott, University of Birmingham, UK Giovanni Occhiali, University of Birmingham, UK Eric Strobl, Aix-Marseille School of Economics & IPAG, France
03:15pm – 04:45pm
Session C3: Oil Price Modelling and Forecasting II Chair: Benoît Sévi, University of Nantes, France
03:15pm – 03:35pm
Trend contagion in WTI and Brent crude oil spot and futures prices - A Spread and correlation analysis Tony Klein, Technische Universtitaet Dresden, Germany
03:35pm – 03:55pm
The efficiency analysis of crude oil spot and futures prices using moving window approach Miroslava Zavadska, Dublin Institute of Technology, Ireland Lucia Morales, Dublin Institute of Technology, Ireland Joseph Coughlan, National University of Ireland Maynooth, Ireland
03:55pm – 04:15pm
Volatility threshold dynamic, sensitivities and oil risk: New indicators Khaled Guesmi, IPAG Business School, France Stéphane Goutte, University of Paris 8, France Ilyes Abid, ISC Paris Business School, France Farid Mkaouer, CNAM, France
Room 2
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04:15am – 04:35pm
The changing nature of oil futures market Benoît Sévi, University of Nantes, France
03:15pm – 04:45pm
Session C4: Energy Issues in Developing and Room 3 Emerging Countries I Chair: Fatih Karanfil, University of Paris Ouest, France & Galatasaray University Economic Research Center, Turkey
03:15pm – 03:45pm
China’s leadership in fostering and financing infrastructure investment for a sustainable and dynamic future Patrick Curran, London School of Economics and Political Science, UK Isabella Neuweg, London School of Economics and Political Science, UK Nicholas Stern, London School of Economics and Political Science, UK
03:45pm – 04:15pm
The Korean public’s willingness to pay for expanding renewables power plants in developing countries Seul-Ye Lim, Seoul National University of Science and Technology, South Korea Hyo-Jin Kim, Seoul National University of Science and Technology, South Korea Yoo Seung-Hoon, Seoul National University of Science and Technology, South Korea
04:15am – 04:45pm
An analysis of the IMF programs in developing countries along energy use and emissions dimensions Fatih Karanfil, University of Paris Ouest, France & Galatasaray University Economic Research Center, Turkey Luc Désiré Omgba, University of Paris Ouest, France
03:15pm – 04:45pm
Session C5: Econometrics of Energy Markets II Room 4 Chair: Albert Banal-Estanol, Universitat Pompeu Fabra & City University London, UK
03:15pm – 03:45pm
Photovoltaic and wind power feed-in impact on electricity prices: the case of Germany François Benhmad, Montpellier University, France Jacques Percebois, Montpellier University, France
03:45pm – 04:15pm
Auctions for renewable energy support - Suitability, design and first lessons learnt Marie-Christin Haufe, Karlsruhe Institute of Technology, Germany
04:15am – 04:45pm
An ex-post evaluation of the GDF/Suez merger: Effects on gas hub prices Elena Argentesi, University of Bologna, Italy Albert Banal-Estanol, Universitat Pompeu Fabra, Spain & City University London, UK Jo Seldeslachts, DIW Berlin, Germany & KU Leuven, Belgium Meagan Andrews
04:45pm – 05:00pm
Coffee Break
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05:00pm – 06:30pm
Parallel Sessions D
05:00pm – 06:30pm
Session D1: Environmental Economics III Amphitheatre Chair: Cees Withagen, IPAG Business School, France & VU University, The Netherlands
05:00pm – 05:30pm
Directed technical change, environmental sustainability, and population growth Peter K. Kruse-Andersen, University of Copenhagen, Denmark
05:30pm – 06:00pm
Buy coal and act strategically on the fuel market Rüdiger Pethig, University of Siegen, Germany
06:00am – 06:30pm
Limit pricing, climate policies, and imperfect competition Gerard van der Meijden, Vrije Universiteit Amsterdam, Netherlands Cees Withagen, IPAG Business School, France & VU University, The Netherlands
05:00pm – 06:30pm
Session D2: Energy Issues in Developing and Room 1 Emerging Countries II Chair: Yuan Xu, The Chinese University of Hong Kong, Hong Kong
05:00pm – 05:30pm
Decomposing the south African CO2 emissions within a BRICS countries context: The energy rebound hypothesis Roula Inglesi-Lotz, University of Pretoria, South Africa
05:30pm – 06:00pm
Reducing oil burning and GHG emissions from mining: A winwin policy for Chile’s copper sector Gino Sturla Zerene, University of Chile, Chile Eugenio Figueroa, University of Chile, Chile Massimiliano Sturla, Federico Santa Maria Technical University, Chile
06:00am – 06:30pm
Utilizing coal resources in Xinjiang: An integrated plan to breach economic, water and CO2 constraints Meiyu Guo, Hong Kong Baptist University, Hong Kong Yuan Xu, The Chinese University of Hong Kong, Hong Kong
05:00pm – 06:30pm
Session D3: Energy Derivatives: Pricing and Hedging I Room 2 Chair: Federico Platania, Pôle Universitaire Leonard de Vinci, France
05:00pm – 05:30pm
Futures trading, market incompleteness and investments in electricity markets Oliver Tietjen, Potsdam Institute for Climate Impact Research, Germany
05:30pm – 06:00pm
Commodities do not shield from risk in financial markets, anymore Beyza Mina Ordu, Ankara Yıldırım Beyazıt University & Middle East Technical University, Turkey Ugur Soytas, Middle East Technical University, Turkey
06:00am – 06:30pm
Long-term swings and seasonality in energy markets Manuel Moreno, Universidad de Castilla-La Mancha, France
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Alfonso Novales, niversidad Complutense de Madrid, France Federico Platania, Pôle Universitaire Leonard de Vinci, France 05:00pm – 06:30pm
Session D4: Finance and Investment in Renewable Room 3 Energy Chair: Joelle Noailly, Centre for International Environmental Studies, Switzerland
05:00pm – 05:20pm
Signals for 2°C: How policies, market and civil society actions influence European insurers’ investment decisions for green infrastructure Jahel Mielke, Global Climate Forum & University of Potsdam, Germany
05:20pm – 05:40pm
Renewable energy for retail investors: Portfolio benefits of Yieldcos Sarah La Monaca, Michael Smurfit Graduate Business School & Energy Institute, Ireland Martina Assereto, Michael Smurfit Graduate Business School & Energy Institute, Ireland Julie Byrne, Michael Smurfit Graduate Business School & Energy Institute, Ireland
05:40pm – 06:00pm
Disagreement and environmental tastes as substitutes for financial performance in energy firms Alex Ng, Thompson Rivers University, Canada Di Zheng, Independant Economist, Canada
06:00am – 06:20pm
Financing energy innovation: The role of financing constraints for directed technical change from fossil-fuel to renewable innovation Joelle Noailly, Centre for International Environmental Studies, Switzerland Roger Smeets, Rutgers Business School, USA
05:00pm – 06:30pm
Session D5: Econometrics of Energy Markets III Room 4 Chair: Vassilios Papavassiliou, University College Dublin, Ireland
05:00pm – 05:30pm
Does energy consumption stimulate economic growth? Empirical evidence for Emerging European countries Iuliana Matei, IESEG Paris, France
05:30pm – 06:00pm
Disentangling the merit-order effect: the case of Germany Cyril Martin de Lagarde, Ecole des Ponts ParisTech & University Paris Dauphine, France Frédéric Lantz, IFP Energies Nouvelles, France
06:00am – 06:30pm
The CO2-growth nexus revisited: A nonparametric analysis for G7 economies over nearly two centuries Muhammad Shahbaz, Montpellier Business School, France Muhammad Shafiullah, University of Nottingham, Malaysia Campus, Malaysia Vassilios Papavassiliou, University College Dublin, Ireland Shawkat Hammoudeh, Drexel University, USA
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Gala Dinner
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GALA DINNER Time: 7:30pm – 11:00pm Address: 207 boulevard Saint Germain, 75007 Paris Walking distance from the conference venue: 500m
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Tuesday, May 23, 2017 08:00am – 09:00am
09:00am – 10:30am
Registration & Coffee
Parallel Sessions E
09:00am – 10:30am
Session E1: Environmental Economics IV Amphitheatre Chair: Joseph Tomain, University of Cincinnati College of Law, USA
09:00am – 09:30am
Multiple criteria evaluation of countries performance in fuel taxation Maria Do Castelo Gouveia, ISCA - Coimbra Business School, Portugal Isabel Clímaco, ISCA - Coimbra Business School, Portugal Carla Henriques, ISCA - Coimbra Business School, Portugal Carlos Antunes, University of Coimbra, Portugal
09:30am – 10:00am
Carbon taxation: designing compensation measures to protect low-income households Audrey Berry, CIRED, France
10:00am – 10:30am
A US clean energy transition and the Trump administration Joseph Tomain, University of Cincinnati College of Law, USA
09:00am – 10:30am
Session E2: Public Policies Room 1 Chair: Jean-Pierre Amigues, Toulouse School of Economics, France
09:00am – 09:30am
Climate equity and optimal carbon taxes Maria Belfiori, Colorado State University, USA
09:30am – 10:00am
Public and private bargaining for the realization of adaptation investment Marco Buso, University of Padova, Italy Anne Stenger, INRA, France
10:00am – 10:30am
Pollution abatement v.s. energy efficiency improvements Jean-Pierre Amigues, Toulouse School of Economics, France Michel Moreaux, Toulouse School of Economics, France
09:00am – 10:30am
Session E3: Corporate Finance Analysis for Energy Companies II Chair: Andrea Roncoroni, ESSEC Business School, France
Room 2
09:00am – 09:30am
The investment performance of United Nations global compact companies: Asset pricing of climate change champions Moses Msiska, Thompson Rivers University, Canada Alex Ng, Thompson Rivers University, Canada Randy Kimmel, Thompson Rivers University, Canada
09:30am – 10:00am
Financing power: Impacts of energy policies in changing regulatory environments Nils May, DIW Berlin, Germany
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Karsten Neuhoff, Deutsches Institut für Wirtschaftsforschung (DIW), Germany 10:00am – 10:30am
09:00am – 10:30am
Optimal financial hedging of nontradable risk Paolo Guiotto, University of Padova, Italy Andrea Roncoroni, ESSEC Business School, France Session E4: Energy Policies for Low Carbon Room 3 Transportation Chair: Roberta F. Mann, University of Oregon School of Law, USA
09:00am – 09:30am
Is high speed rail a sustainable mobility option? Assessing the environmental contribution of HSR in the Basque country, Spain David Hoyos, University of the Basque Country, Spain Gorka Bueno, University of the Basque Country, Spain Iñigo Capellán-Pérez, University of Valladolid, Spain
09:30am – 10:00am
Consumer preferences for electricity-driven passenger vehicles: How much are recharging time, driving range and fast-mode recharging infrastructure worth for the poles? Milan Ščasný, Charles University Environment Center, Czech Republic Iva Zvěřinová, Charles University Environment Center, Czech Republic Mikołaj Czajkowski, University of Warsaw, Poland
10:00am – 10:30am
Sustainably funding transportation infrastructure: Tax fuel or miles? Roberta F. Mann, University of Oregon School of Law, USA
09:00am – 10:30am
Session E5: Econometrics of Energy Markets IV Chair: Dirk Röttgers, OECD, France
09:00am – 09:30am
Intermittency and the social benefits of storage Monica Giulietti, Loughborough University, UK Elisa Trujillo-Baute, Universitat de Barcelona, Spain Michael Waterson, Univesity of Warwick, UK
09:30am – 10:00am
Sanctions against Iran: An assessment of their global impact through the lens of international methanol prices Emmanuel Hache, IFP Energies Nouvelles, France Olivier Massol, IFP Energies Nouvelles, France
10:00am – 10:30am
The empirics of enabling investment and innovation in renewable energy Geraldine Ang, OECD, France Dirk Röttgers, OECD, France Pralhad Burli, OECD, France
10:30am – 11:00am
Coffee Break
Room 4
26
11:00am – 12:30pm
Parallel Sessions F
11:00am – 12:30pm
Session F1: Environmental Economics V Amphitheatre Chair: Agustin Perez-Barahona, University of Cergy-Pontoise, France
11:00am – 11:20am
Aging and transport-related energy use: do generations matter? Rossella Bardazzi, Università di Firenze, Italy Maria Grazia Pazienza, Università di Firenze, Italy
11:20am – 11:40am
Assessing the effects of climate policy on firms’ greenhouse gas emissions Ana Maria Montoya Gómez, Ifo Insitute, University of Munich, Germany Markus Zimmer, Ifo Insitute, University of Munich, Germany
11:40am – 12:00pm
Faraway, so close: Coupled climate and economic dynamics in an agent-based integrated assessment model Francesco Lamperti, Scuola Superiore Sant'Anna di Pisa, Italy Giovanni Dosi, Scuola Superiore Sant'Anna di Pisa, Italy Mauro Napoletano, OFCE & SKEMA Business School, France & Scuola Superiore Sant'Anna di Pisa, Italy Andrea Roventini, Scuola Superiore Sant'Anna di Pisa, Italy & OFCE, France Alessandro Sapio, University Parthenope of Naples, Italy
12:00pm – 12:20pm
Wildlife management: Sea turtles in Florida Michael Brei, UWI and Paris West University, France Agustin Perez-Barahona, University of Cergy-Pontoise, France Eric Strobl, Aix-Marseille School of Economics & IPAG Business School, France
11:00am – 12:30pm
Session F2: Empirical Studies in Environmental Economics II Chair: Mordechai Shechter, University of Haifa, Israel
11:00am – 11:30am
Financial instruments for mitigation of flood risks: The case of Florence Fabio Castelli, University of Florence, Italy Marcello Galeotti, University of Florence, Italy Giovanni Rabitti, Bocconi University, Italy
11:30am – 12:00pm
Logging concessions, certification & protected areas in the Peruvian Amazon: Assessing forest impacts from combinations of land-use restrictions and rights Jimena Rico, Banco de Mexico, Mexico Stephanie Panlasigui, Duke University, USA Colby Loucks, World Wildlife Fund, USA Jennifer Swenson, Duke University, USA Alexander Pfaff, Duke University, USA
12:00pm – 12:30pm
Economic and risk aspects of climate change implications on the insurance sector Ayelet Davidovitch, University of Haifa, Israel Mordechai Shechter, University of Haifa, Israel
Room 1
27
Ofira Ayalon, University of Haifa, Israel Ruslana Palatnik, University of Haifa & Yezreel Valley College, Israel 11:00am – 12:30pm
Session F3: Financial and Economic Analysis of Energy Markets II Chair: Stéphane Goutte, University of Paris 8, France
11:00am – 11:20am
How does liquidity affect value, risk, and performance of energy equity portfolios? Lionel Lecesne, Paris-Seine University & ESSEC Business School, France Andrea Roncoroni, ESSEC Business School, France
11:20am – 11:40am
Effects of power plants mothballing decisions on investments incentives in electricity markets Ahmed Ousman Abani, Microeconomix & MINES ParisTech, France Nicolas Hary, Microeconomix & MINES ParisTech, France Vincent Rious, Florence School of Regulation Florence, Italy Marcelo Saguan, Florence School of Regulation Florence, Italy
11:40am – 12:00pm
The green bond premium Olivier David Zerbib, ISFA & Groupama Asset Management, France
12:00pm – 12:20pm
A techno-economic methodology for evaluating the economic impact of residential PV and battery storage in Australia Damian Shaw-Williams, Queensland University of Technology, Australia Jeremy Varendorf, Queensland University of Technolgy, Australia
11:00am – 12:30pm
Session F4: Renewable and Low Carbon Technology Room 3 Policy II Chair: Michael Jefferson, ESCP Europe Business School, France
11:00am – 11:30am
Comparing different flexibility options for the efficient integration of renewable energies in Germany Matthias Huber, University of Munich, Germany
11:30am – 12:00pm
The slow expansion of renewable energy in Russia: Competitiveness and regulation issues Tatiana Lanshina, Russian Presidential Academy of National Economy and Public Administration & Institute for U.S. and Canadian Studies, Russia John Laitner, Russian Presidential Academy of National Economy and Public Administration, Russia & Economic and Human Dimensions Research Associates, USA Vladimir Potashnikov, Russian Presidential Academy of National Economy and Public Administration, Russia Vera Barinova, Russian Presidential Academy of National Economy and Public Administration, Russia
12:00pm – 12:30pm
Market integration VS temporal granularity: how to provide needed flexibility resources? Olivier Borne, CentraleSupélec, France Yannick Perez, University of Paris Sud & CentraleSupélec, France Marc Petit, CentraleSupélec, France
Room 2
28
11:00am – 12:30pm
Session F5: Econometrics of Energy Markets V Room 4 Chair: Luigi Sereno, Joint Research Centre, European Commission
11:00am – 11:20am
The positive feedback cycle in the electricity market: Residential solar PV adoption, electricity demand and prices Michael Chesser, Dublin Institute of Technology, Ireland Jim Hanly, Dublin Institute of Technology, Ireland Damien Cassells, Dublin Institute of Technology, Ireland Nicholas Apergis, University of Piraeus, Greece
11:20am – 11:40am
Cross-border technology differences and trade barriers: Evidence from German and French electricity markets Klaus Gugler, Vienna University of Economics and Business, Austria Adhurim Haxhimusa, Vienna University of Economics and Business, Austria
11:40am – 12:00pm
Forecasting prices in electricity day-ahead auctions: An overview of the Turkey market Ezgi Avci-Surucu, Erasmus University, The Netherlands & Ministry of Energy and Natural Resources, Turkey Eric van Heck, Erasmus University, The Netherlands Wolfgang Ketter, Erasmus University, The Netherlands
12:00pm – 12:20pm
Capacity constraint, transmission investment and regulation Luigi Sereno, Joint Research Centre, European Commission Tilemahos Efthimiadis, Joint Research Centre, European Commission
12:30pm – 02:00pm
Lunch Break (155 Boulevard Saint Germain, 75006 Paris)
Keynote Lecture II Professor Amy Myers Jaffe, University of California, United States
02:00pm – 03:00pm
03:00pm – 03:15pm
Amphitheatre
Coffee Break
03:15pm – 04:45pm
Parallel Sessions G
03:15pm – 04:45pm
Session G1: Empirical Studies in Environmental Amphitheatre Economics III Chair: Muhammad Shahbaz, Montpellier Business School, France & Institute of Information Technology, Pakistan
03:15pm – 03:45pm
Synergy in environmental strategies and productivity of small and medium-sized enterprises in Vietnam Phu Nguyen-Van, University of Strasbourg & CNRS, France Quoc Tran Nam, University of Strasbourg & CNRS, France
29
03:45pm – 04:15pm
The push for renewables in India: A real options approach Supratim Das Gupta, Universidad de Guanajuato, Mexico Alejandro Mosiño, Universidad de Guanajuato, Mexico
04:15am – 04:45pm
Does the environmental Kuznets curve exist for the most polluting countries? A decomposed analysis of China and India Muhammad Shahbaz, Montpellier Business School, France & Institute of Information Technology, Pakistan Mantu Kumar Mahalik, National Institute of Technology, India Thi Hong Van Hoang, Montpellier Business School, France
03:15pm – 04:45pm
Session G2: Energy Derivatives: Pricing and Hedging II Chair: Antony Ware, The University of Calgary, Italy
03:15pm – 03:45pm
The dependence of commodity spot-futures markets: How can this help investors to make profit? Sana Ben Kbaier, University Paris Dauphine, France Anna Creti, University Paris Dauphine, France Zied Ftiti, EDC Paris Business School, France
03:45pm – 04:15pm
Hedging spark spread risk with futures Beatriz Martínez, University of Valencia, Spain Hipòlit Torró, University of Valencia, Spain
04:15am – 04:45pm
Reliability-constrained hydropower valuation Antony Ware, The University of Calgary, Italy
03:15pm – 04:45pm
Session G3: Energy and Financial Market Interactions II Chair: Aurélien Saussay, Sciences Po, France
03:15pm – 03:45pm
The impact of oil price shocks on the term structure of interest rates Christos Ioannidis, Aston Business School, UK Kook Ka, University of Bath, UK
03:45pm – 04:15pm
Will assets be stranded or bailed out? Expectations of investors in the face of climate policy Marie-Theres von Schickfus, University of Munich, Germany Suphi Şen, University of Munich, Germany
04:15am – 04:45pm
The impacts of energy prices on industrial foreign investment location: evidence from global firm level data Aurélien Saussay, Sciences Po, France Misato Sato, London School of Economics and Political Science, UK
03:15pm – 04:45pm
Session G4: Energy Issues in Developing and Room 3 Emerging Countries III Chair: Duc Khuong Nguyen, IPAG Business School, France & Indiana University, USA
03:15pm – 03:45pm
Comparisons of decoupling trends of global economic growth and energy consumption between developed and developing
Room 1
Room 2
30
countries Ya Wu, Jinan University, China Qianwen Zhu, Jinan University, China 03:45pm – 04:15pm
Optimal policies for building up and drawing down stabilization funds: An illustration using Saudi Arabia Nader AlKathiri, King Abdullah Petroleum Studies and Research Center, Saudi Arabia Tarek N. Atalla, King Abdullah Petroleum Studies and Research Center, Saudi Arabia Frederic H. Murphy, King Abdullah Petroleum Studies and Research Center, Saudi Arabia & Temple University, USA Axel Pierru, King Abdullah Petroleum Studies and Research Center, Saudi Arabia
04:15am – 04:45pm
Promises and challenges – The latest developments in the Iranian oil and gas sectors Tamás Dudlák, Corvinus University of Budapest, Hungary
03:15pm – 04:45pm
Session G5: Energy Price Dynamics Room 4 Chair: Dayong Zhang, Southwestern University of Finance and Economics, China
03:15pm – 03:35pm
Emerging international energy trade dynamics. The role for unconventional hydrocarbons on facing future energy challenges Alessandro Chiodi, E4SMA, Italy Maurizio Gargiulo, E4SMA, Italy Francesco Gracceva, E4SMA, Italy Francesco De Milgio, E4SMA, Italy Amanda Spisto, European Commission, The Netherlands Anca Costescu, European Commission, The Netherlands
03:35pm – 03:55pm
Analyzing and modeling high frequency realized volatility of energy commodities Fei Liu, University of Liverpool, UK Athanasios Pantelous, University of Liverpool, UK Hans-Jörg Von Mettenheim, Leibniz Universität Hannover, Germany Christoph Wegener, IPAG Business School, France
03:55pm – 04:15pm
European natural gas markets integration and the relationship between natural gas and crude oil markets Marianna Russo, Cass Business School & Economic and Social Research Institute, UK
04:15am – 04:35pm
Modeling oil-gas price relationship: A long memory approach Dayong Zhang, Southwestern University of Finance and Economics, China
04:45pm – 05:00pm Closing
Amphitheatre
31
LIST OF PARTICIPANTS First name Ilyes Clemence Jean-Pierre Dawud Martina
Last Name A Abid Alasseur Amigues Ansari Assereto
Ezgi
Avci-Surucu
Albert Maria Sana François Rafael Audrey Emeline Olivier Patrice Marco
B Banal-Estanol Belfiori Ben Kbaier Benhmad Benitez Berry Bezin Borne Bougette Buso
Universitat Pompeu Fabra, Spain & City University London, UK Colorado State University, USA University Paris Dauphine, France Montpellier University, France University of Barcelona Spain CIRED, France PSE, France & IRES, Belgium CentraleSupélec, France University of Côte d’Azur & CNRS, France University of Padova, Italy
Michael Julien Isabel Anna
C Chesser Chevallier Clímaco Creti
Dublin Institute of Technology, Ireland University of Paris 8 & IPAG Business School, France ISCA - Coimbra Business School, Portugal University Paris Dauphine, France
Supratim Prudence Ayelet Baran Tamás
D Das Gupta Dato Davidovitch Doda Dudlák
Universidad de Guanajuato, Mexico Savoie Mont Blanc University, France University of Haifa, Israel London School of Economics, UK Corvinus University of Budapest, Hungary
Balàz
E Egert
OECD, France
Institution(s) ISC Paris Business School, France EDF France Toulouse School of Economics, France German Institute for Economic Research, Germany UCD Michael Smurfit Graduate Business School, Ireland Erasmus University, The Netherlands & Ministry of Energy and Natural Resources, Turkey
32
George Michael Maria Christoph
F Filis Flaherty Flora Funk
Panteion University of Social and Political Sciences, Greece The New School for Social Research, USA University of Padova, Italy Giessen University, Germany
Marcello Hayette Stéphane Khaled
G Galeotti Gatfaoui Goutte Guesmi
University of Florence, Italy IESEG School of Management, France University of Paris 8, France IPAG Business School, France
H MarieChristin Mahmoud Adhurim Conor David Matthias
Haufe
Karlsruhe Institute of Technology, Germany
Hassan Haxhimusa Hickey Hoyos Huber
University of Angers, France Vienna University of Economics and Business, Austria University College Cork, Ireland University of the Basque Country, Spain University of Munich, Germany
Roula
I Inglesi-Lotz
University of Pretoria, South Africa
Amy Myers Michael
J Jaffe Jefferson
University of California, United States ESCP Europe Business School, France
K Kook Ka Mohamad B. Karaki Fatih
Karanfil
Sebastian Lutz Hyo-Jin Harald Tony Tom Peter K.
Kessing Kilian Kim Kinateder Klein Kompas Kruse-Andersen
University of Bath, UK Lebanese American University, Lebanon University of Paris Ouest, France & Galatasaray University Economic Research Center, Turkey University of Siegen, Germany University of Michigan, USA Seoul National University of Science & Technology, South Korea University of Passau, Germany Technische Universtitaet Dresden, Germany Australian National University, Australia University of Copenhagen, Denmark 33
L Sarah
La Monaca
Francesco
Lamperti
Tatiana
Lanshina
Cuong Lionel Kai
Le Van Lecesne Lessmann
M Roberta F. Mann Alfred Marcus Cyril Martin de Lagarde Beatriz Martínez Ricardo Marto Olivier Massol Iuliana Matei Atsuko Matsumura Nils May Massimiliano Mazzanti Jahel Mielke Beyza
Mina Ordu
Ana Maria Lucia Moses
Montoya Gómez Morales Msiska
Michael Smurfit Graduate Business School & Energy Institute, Ireland Sant’Anna School of Advanced Studies, Italy Russian Presidential Academy of National Economy and Public Administration & Institute for U.S. and Canadian Studies, Russia IPAG Business School & Paris School of Economics, France Paris-Seine University & ESSEC Business School, France Potsdam Institute for Climate Impact Research, Germany
University of Oregon School of Law, USA University of Minnesota Carlson School of Management, USA Ecole des Ponts ParisTech & University Paris Dauphine, France University of Valencia, Spain IMF, USA IFP Energies Nouvelles, France IESEG Paris, France Tokyo International University, Japan DIW Berlin, Germany University of Ferrara, Italy Global Climate Forum & University of Potsdam, Germany Ankara Yıldırım Beyazıt University & Middle East Technical University, Turkey Ifo Insitute, University of Munich, Germany Dublin Institute of Technology, Ireland Thompson Rivers University, Canada
N Mauro
Napoletano
Isabella Alex
Neuweg Ng
OFCE & SKEMA Business School, France & Scuola Superiore Sant'Anna di Pisa, Italy London School of Economics and Political Science, UK Thompson Rivers University, Canada
Duc Khuong Nguyen IPAG Business School, France & Indiana University, USA Joelle Noailly Centre for International Environmental Studies, Switzerland Nogueira Meirelles Mateus University of Illinois at Urbana Champaign, USA de Souza
Ahmed
O Ousman Abani
Microeconomix & MINES ParisTech, France
P
34
Vassilios Jacques Maria Grazia Agustin Rüdiger
Papavassiliou Papy Pazienza Perez-Barahona Pethig
Axel
Pierru
Federico
Platania
Jimena Hatem Andrea Fabien Dirk
R Rico Rjiba Roncoroni Roques Röttgers
Marianna
Russo
Misato Aurélien Manuela Guido Ingmar Luigi Lim Benoît
S Sato Saussay Schöner Schotten Schumacher Sereno Seul-Ye Sévi
Muhammad
Shahbaz
Syed Jawad Hussain Damian Amanda
University College Dublin, Ireland UQAM, Canada Università di Firenze, Italy University of Cergy-Pontoise, France University of Siegen, Germany King Abdullah Petroleum Studies and Research Center, Saudi Arabia Pôle Universitaire Leonard de Vinci, France
Banco de Mexico, Mexico ESSCA School of Management, France ESSEC Business School, France University Paris IX - Paris Dauphine, France OECD, France Cass Business School & Economic and Social Research Institute, UK
London School of Economics and Political Science, UK Sciences Po, France Frankfurt School of Finance and Management, Germany Dutch Central Bank (DNB), The Netherlands IPAG Business School, France Joint Research Centre, European Commission Seoul National University of Science and Technology, South Korea University of Nantes, France Montpellier Business School, France & Institute of Information Technology, Pakistan
Shahzad
Montpellier Business School, France
Shaw-Williams Spisto
Eric
Strobl
Gino
Sturla Zerene
Queensland University of Technology, Australia European Commission, The Netherlands Aix-Marseille School of Economics & IPAG Business School, France University of Chile, Chile
Luca Frédéric Oliver Aviral Richard S.J.
T Taschini Teulon Tietjen Tiwari Tol
London School of Economics and Political Science, UK IPAG Business School, France Potsdam Institute for Climate Impact Research, Germany Montpellier Business School, France University of Sussex, United Kingdom
35
Joseph Quoc Raphael Elisa
Tomain Tran Nam Trotignon Trujillo-Baute
Yasmin
V Valji
Marc
Vielle
Hans-Jörg Von Mettenheim Marie-Theres von Schickfus
Thomas Antony Christoph
W Walther Ware Wegener
Cees
Withagen
Yuan
X Xu
University of Cincinnati College of Law, USA University of Strasbourg & CNRS, France Climate Economics Chair, France Universitat de Barcelona, Spain
Office of Gas and Electricity Markets (OFGEM), UK Laboratoire d'Economie Urbaine et de l'Environnement (LEURE), Switzerland Leibniz Universität Hannover, Germany University of Munich, Germany
Technische Universitat Dresden, Germany The University of Calgary, Italy IPAG Business School, France IPAG Business School, France & VU University, The Netherlands
The Chinese University of Hong Kong, Hong Kong
Y Seung-Hoon Yoo
Seoul National University of Science & Technology South Korea
Z Miroslava Zavadska Olivier David Zerbib Dayong Zhang Qianwen Zhu Iva Zvěřinová
Dublin Institute of Technology, Ireland ISFA & Groupama Asset Management, France Southwestern University of Finance and Economics, China Jinan University, China Charles University Environment Center, Czech Republic
36
LIST OF PARTICIPANTS BY COUNTRY
Australia Austria Belgium Canada Chile China Czech Republic Denmark France Germany Greece Hong Kong
3 1 1 3 1 2 1 1 40 17 1 1
Hungary Ireland Israel Italy Japan Lebanon Mexico Netherlands Pakistan Portugal Russia Saudi Arabia South Africa South Korea Spain Switzerland Turkey United Kingdom United States
1 7 1 9 1 1 2 4 1 1 1 1 1 3 5 2 3 9 10
37
ACKNOWLEDGEMENTS Economic activity, environmental concerns and energy consumption are inextricably linked. We are currently in the early stage of a major energy transition. IPAG Business School places the environmental protection and corporate social responsibility at the heart of its research agenda. We live it as a public-spirited commitment. On behalf of the organizing committee, I thank you very much for your presence throughout this Symposium.
Frédéric Teulon Executive Head of Research IPAG Business School
38
NOTES
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