Quantitative Sustainable Economics and Finance 
Time: 12.10 pm
Date: 23th of May 2024
Room 3005

Emanuele Campiglio (University of Bologna) “Warning words in a warming world”

Abstract :We study climate-related central bank communication using a novel dataset containing 32,359 speeches from 131 central banks over the 1986-2021 period. We employ natural language processing techniques to identify three evolving climate-related narratives centered around ‘sustainable development’, ‘green finance’ and ‘climate-related financial risks’. We find central bank public communication strategies to be primarily driven by underlying institutional factors. Finally, we study the impact of communication on equity prices and find that firms characterized by better environmental scores benefit from the more frequent and intense engagement of central banks on climate-related topics.

Organizers:

Peter TANKOV (CREST)

Sponsors:
CREST