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X-WR-CALNAME:UT Energy Symposium: on the subject of macroeconomic modeling 
 in context of finance and climate change
X-WR-TIMEZONE:Central Time (US & Canada)
BEGIN:VEVENT
DTSTAMP:20260811T210216Z
UID:tag:localist.com\,2008:EventInstance_42209559089157
DTSTART:20230411T173000Z
DTEND:20230411T183000Z
DESCRIPTION:Title: Extreme Climate Risks and Financial Tipping Points\n\nGa
 ël Giraud\, Professor\, McCourt School of Public Policy\, Director of the
  Environmental Justice Program\, Georgetown University\n\nSpeaker Biograph
 y: A former senior researcher in mathematical economics at CNRS\, and a fo
 rmer chief economist of the French Development Bank\, GG is the founder of
  the Environmental Justice Program at Georgetown university. His research 
 is dedicated to stock-flow consistent macroeconomics\, climate change and 
 natural resources. \n\nAbstract: Designing climate change policies require
 s considering the feedback loops between mitigation and adaptation\, since
  more mitigation efforts today will trigger lower adaptation costs. In thi
 s framework\, carbon taxes are often seen as promising tools but at the ri
 sk of financially overburdening the private sector\, depriving it of impor
 tant economic resources.\nHowever\, analyzing the financial feasibility of
  mitigation-adaptation policies using conventional Integrated Assessment M
 odels (IAM) is limited\, as they do not simultaneously endogenize economic
  growth\, emissions\, and damages.\nHere\, we present IDEE (Integrated Dyn
 amic Environment-Economic)\, a new IAM based on the coupling of an Earth M
 odel of Intermediate Complexity and a non-linear macroeconomic model in co
 ntinuous time. We analyze the simultaneous effects of carbon taxes and pub
 lic spending\, both on climate and on the world economy. We show that\, ab
 ove a warming about +2.3 C\, damages drastically foster the need for addit
 ional investments in productive capital---an adaptation necessity---that p
 otentially leads private firms to a debt overhang and a worldwide cascade 
 of defaults. This suggests that the Paris Agreement target should not only
  be motivated by the climatic non-linearities and tipping points arising b
 eyond the \\degC{+2} threshold\, but also by the emergence of financial ti
 pping points. We also show that\, provided public subsidies are high enoug
 h\, a tax of US$ 300~per~tCO2-eq by 2030 enables reaching net-zero emissio
 ns in 2050\, preventing firms from suffering global bankruptcy.\n\n \n\nAb
 out the UT Energy Symposium:\n\nThe UT Energy Symposium is a weekly guest 
 lecture series that is both free and open to the public and available for 
 course credit.\n\nIn an effort to provide a multi-disciplinary platform fo
 r UT faculty and students to interact on the most pressing energy issues f
 acing our world\, the Energy Institute sponsors the UT Energy Symposium (U
 TES)\, which will enter its 24th semester in spring 2023. \n\nThe UTES ser
 ves as a “convener” for the campus community\, uniting students intere
 sted in energy issues with faculty and others working on sustainable energ
 y security. Students who register for the symposium receive one credit hou
 r for the 15-week seminar course\, which is open to both undergraduate and
  graduate students.\n\nOngoing themes for UTES include climate change poli
 cy\, innovation and diffusion of energy technologies\, low-carbon technolo
 gy options and status\, and behavioral aspects of energy consumption.\n\nE
 ach UTES talk will be recorded and posted on this page and on the Energy I
 nstitute YouTube channel following the event.
LOCATION:
SUMMARY:UT Energy Symposium: on the subject of macroeconomic modeling in co
 ntext of finance and climate change
URL;VALUE=URI:https://calendar.utexas.edu/event/ut_energy_symposium_on_the_
 subject_of_macroeconomic_modeling_in_context_of_finance_and_climate_change
CATEGORIES:Business & Economy
CATEGORIES:Policy & Law
CATEGORIES:Science & Technology
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