Climate Investing

New Strategies and Implementation Challenges

Climate Investing

Edited by

Emmanuel Jurczenko, EDHEC Business School, France

ISBN : 9781786308061

Publication Date : January 2023

Hardcover 394 pp

165.00 USD



This new edited volume consists of a collection of original articles written by leading industry and academic experts in the area of climate investing.

The chapters introduce the reader to some of the latest research developments in the area of low-carbon investing and climate change solutions.

Each chapter deals with new methods for estimating portfolio carbon footprints, constructing Paris-aligned equity and multi-asset portfolios and hedging climate risks. This volume will be of great help to portfolio managers, asset owners and consultants, as well as academics and students who want to improve their knowledge and understanding of climate investing.


1. The Financial Materiality of Climate Change: Evidence from a Global Survey, Amir Amel-Zadeh.
2. Looking Forward with Historical Carbon Data, Steffen Bixby, Alfie Brixton and Lukasz Pomorski.
3. Portfolio Construction with Climate Risk Measures, Théo Le Guenedal and Thierry Roncalli.
4. Hedging Climate Risks: A Cross-asset Approach, Emmanuel Jurczenko and Jérôme Teiletche.
5. A Framework for Achieving Net-Zero-Carbon Alpha Portfolios, Sébastien Lancetti.
6. Active Paris-aligned Equity Investing, Katharina Schwaiger, Jim Snow, Viktoria-Sophie Wendt and Andrew Ang.
7. Green Alpha, Yin Luo.
8. Enhancing Environment-driven Portfolios with Traditional Factors, Guillaume Coqueret, Christian Morgenstern, James Kelly, Sache Stiernegrip, Johannes Frey-Skött and Björn Österberg.
9. Enhancing the Accuracy of Firm Valuation with Multiples Using Carbon Emissions, Martin Nerlinger.
10. Risk Management Challenges in Sustainability Themed Portfolios: An Application to GHG-constrained Portfolios, Ryan M. Brown, Harindra De Silva and David W. Krider.
11. Absolutely Sustainable Investing Across Asset Classes with Paris-aligned Benchmarks: An Application to AP2, Claes Ekman, Andreas G.F Hoepner, Peter Mannerbjörk, Tomas Morsing and Gabija Zdanceviciute.
12. Delegated Philanthropy in Mutual Fund Votes on Climate Change Externalities, Marie Brière, Sébastien Pouget, Martin Schmalz and Loredana Ureche-Rangau.
13. Creditworthiness and Buildings’ Energy Efficiency in the Mortgage Market, Monica Billio, Michele Costola, Loriana Pelizzon, Francesco Portioli, Max Riedel and Daniele Vergari.
14. The Thesis for Green Investing and Other ESG through the Looking Glass of China and the US, Brad Cornell and Jason C. Hsu.

About the authors/editors

Emmanuel Jurczenko is Director of Graduate Finance Programs at EDHEC Business School, France. Prior to this, he was Associate Professor of Finance at ESCP-Europe, Associate Dean at Ecole Hôtelière de Lausanne, Director of Graduate Studies at Glion Institute for Higher Education and worked for ABN-AMRO as Head of Quantitative Analysts, where he was in charge of quantitative fund selection. His research focuses on quantitative portfolio management and asset pricing. He is interested, in particular, in issues related to risk-based and factor investing, climate and sustainable investing and private markets.