Gauthier Vermandel recognised for his research into green finance
Green finance bridges the gap between economics and environmental science.
Gauthier Vermandel, a researcher at the Center for Applied Mathematics (CMAP*) and currently on leave from his associate professor position at Paris-Dauphine-PSL University, has been awarded the "Young Green Finance Researchers" prize for 2023 by the Banque de France.
The award was revealed at the 8th “Green Finance research advances” conference, which took place from 12 to 14 December 2023 in Paris and online. This international conference is co-organised by the Banque de France and the Institut Louis Bachelier, with the participation of the Institut de la Finance Durable and the Institute for Climate Economics-I4CE. It is aimed at researchers from both the academic world and the finance sector.
Gauthier Vermandel is renowned for his research into the impact of carbon taxes on financial markets. Earlier this year, he published an article on the topic in the Financial Times, co-authored with Ghassane Benmir and Ivan Jaccard. In this work, and based on their research work about "green financial valuation", the three authors argue in favor ofdesigning a tax on CO2 emissions in the context where environmental factors impact the market.
"The effects of the carbon tax on the financial markets are still uncertain. Research in this area remains fundamental if we are to make a smooth transition to a low-carbon economy. This prize is an encouragement to continue research in this area", says the researcher.
Gauthier Vermandel, whose expertise lies in macroeconomics, climate change and economic cycles, is a member of the "Stress-test, Risk management and Financial Steering" Chair at École Polytechnique. The Chair regularly showcases green finance research, notably through its recurring conference on "Climate finance, risk and uncertainty modelling" (CLIFIURIUM).
*CMAP: a joint research unit CNRS, Inria, École Polytechnique, Institut Polytechnique de Paris, 91120 Palaiseau, France
About the Chair « Stress-test: Risk management and Financial Steering”
Founded in 2018 and headed by Emmanuel Gobet, the “Stress Test, Risk Management & Financial Steering” Chair studies the resilience of banking activities to shocks of various kinds (credit, market, operational, climate, cyber security, reputation, etc.). Supported by BNP Paribas, this research Chair benefits from the banking expertise and regulatory experience of its corporate sponsor to better understand the challenges and issues facing the banking system. Thus, the applied mathematics work coordinated by Emmanuel Gobet offers innovative approaches to risk modelling, simulation, statistical inference, machine learning and artificial intelligence.
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