Stern Alumni Lecture and Reception with Prof. Robert Engle in San Diego

NYU Stern School of Business and its Alumni Club of San Diego invites MBAsd to join us on Thursday 3/20 at The Lodge at Torrey Pines for an evening of cocktails and conversation with Roberf F. Engle, Professor Emeritus of Finance, Co-Director of the Volatility and Risk Institute, and 2003 Nobel Prize Winner for Economics. Appetizers and drinks will be served at this complimentary event. Seats are limited

Date: Thursday, March 20, 2025 | 6:00 - 8:00 PM
Talk will begin at 6:15 PM with Q&A and a reception to follow

Location: The Lodge at Torrey Pines
11480 North Torrey Pines Road, La Jolla, CA 92037

Robert F. Engle
Professor Emeritus of Finance
Co-Director of the Volatility and Risk Institute

Abstract from Prof. Engle's talk, "Mirror, Mirror on the Wall, Who's the Greenest of Us All?"

Financial assets are often exposed to long-run risks such as Physical Risk or Transition Risk associated with climate change. We define brown assets as those most exposed to transition risk and green assets as those for whom transition risk is an opportunity (that is, a negative risk). The literature is mixed on the expected returns of green vs brown assets which is partly due to differing definitions and partly to value weighting portfolios. An important long run risk for brown assets may be termination risk. The management strategies to deal with termination risk are developed and reflect features of fossil energy markets.