On Monday, October 2, 2023, the Federal Reserve Bank of New York, in partnership with the School of International and Public Affairs at Columbia University, hosted the second annual Environmental Economics and Policy Conference.
The in-person event featured a keynote presentation from Columbia University Professor and Nobel Laureate Joseph Stiglitz, a discussion with Stiglitz moderated by New York Fed President John C. Williams, academic paper presentations, and panel discussions. Researchers, financial services professionals, advocates, and urbanists discussed quantifying and mitigating climate risk. The event was targeted to an audience of academics, economists, leaders of community organizations, city and state agencies, and policy advocacy organizations.
See the agenda for timing of specific conference segments.
Monday, October 2, 2023
9:00 AM – 5:00 PM EDT
(Reception to follow)
Federal Reserve Bank of New York
Auditorium
33 Liberty Street
New York, NY 10045
(Registration is now closed)
This event is open to the public.
This event was open to the media. All remarks are on the record and the event was recorded, with the recording to be made available afterwards. For media inquiries, please contact Ellen Simon at Ellen.Simon@ny.frb.org.
Agenda
| 9:15am-9:30am | Welcome and Opening Remarks (00:15 in video) Claire Kramer-Mills, Director of Community Development Insights, Federal Reserve Bank of New York João A.C. Santos, Director of Financial Intermediation Policy Research, Federal Reserve Bank of New York |
| 9:30am-12:00pm | SESSION 1: MEASURING CLIMATE RISK (02:15 in video) Moderator: João A.C. Santos, Director of Financial Intermediation Policy Research, Federal Reserve Bank of New York |
| 9:30am-11:00am | “Pricing of Climate Risk Insurance: Regulation and Cross Subsidies” (04:41 in video) Presenter: Ana-Maria Tenekedjieva, Economist, Federal Reserve Board of Governors “A Large Undocumented Mortality Burden Caused by the Tropical Cyclone Climate of the United States” (38:24 in video) Presenter: Rachel Young, PhD Candidate, Princeton University “US Banks’ Exposures to Climate Transition Risks” (1:07:35 in video) Presenter: Lee H. Seltzer, Financial Research Economist, Federal Reserve Bank of New York |
| 11:00am-11:05am | BREAK |
| 11:05am-12:00pm | Practitioner Panel – Measuring Risk (01:36:38 in video) Moderator: Javier Silva, Senior Associate Director, Federal Reserve Bank of New York Daryl Fairweather, Chief Economist, Redfin Moses Gates, Vice President, Housing and Neighborhood Planning, Regional Plan Association Carolyn Kousky, Associate Vice President, Economics and Policy Analysis, Environmental Defense Fund |
| 12:00pm-1:00pm | LUNCH |
| 1:00pm-1:30pm | KEYNOTE ADDRESS (2:31:53 in video) Joseph E. Stiglitz, University Professor, Columbia University Introductory Remarks: Douglas Almond, Professor of International and Public Affairs and Economics, Columbia University |
| 1:30pm-2:15pm | MODERATED DISCUSSION (03:11:50 in video) Joseph E. Stiglitz, University Professor, Columbia University John C. Williams, President, Federal Reserve Bank of New York (Moderator) |
| 2:15pm-2:30pm | BREAK |
| 2:30pm-5:00pm | SESSION 2: FRONTIERS IN ADAPTING TO CLIMATE RISK (03:55:26 in video) Moderator: Wolfram Schlenker, Vice Dean, Columbia University School of International and Public Affairs; Professor of International and Public Affairs; Co-Director, Center for Environmental Economics and Policy |
| 2:30pm-4:00pm | “The Canary in the Coal Decline: Appalachian Household Finance and the Transition from Fossil Fuels” (03:57:08 in video) Presenter: Joshua Blonz, Senior Economist, Federal Reserve Board of Governors “Rain Follows the Forest: Land Use Policy, Climate Change, and Adaptation” (04:28:18 in video) Presenter: Anna Papp, PhD Candidate, Columbia University School of International and Public Affairs “Do Firms Mitigate Climate Impact on Employment? Evidence from U.S. Heat Shocks” (04:55:11 in video) Presenter: Viral Acharya, C.V. Starr Professor of Economics, New York University Stern School of Business |
| 4:00pm-4:05pm | BREAK |
| 4:05pm-5:00pm | Practitioner Panel – Adapting to Climate Risk (05:23:52 in video) Moderator: Julian Macrone, Community Development Specialist, Federal Reserve Bank of New York Adam Kent, Senior Advisor, NRDC Johanna Lawton, Project Manager, Rebuild By Design Jose Serrano-McClain, Partner, HR&A Advisors |
| 5:00pm-5:05pm | Closing Remarks (06:18:50 in video) David J. Erickson, Head of Outreach and Education, Federal Reserve Bank of New York |
Pricing of Climate Risk Insurance: Regulation and Cross Subsidies
A Large Undocumented Mortality Burden Caused by the Tropical Cyclone Climate of the United States
US Banks’ Exposures to Climate Transition Risks
The Canary in the Coal Decline: Appalachian Household Finance and the Transition from Fossil Fuels
Rain Follows the Forest: Land Use Policy, Climate Change, and Adaptation
