Environmental Finance and Investments

Marc Chesney holds a Ph.D. in Finance from the University of Geneva and obtained his habilitation from the Sorbonne University. He is currently Professor of Finance and Vice-Director of the Department of Banking and Finance of the University of Zurich where he created the Environmental Finance course. He is an expert in quantitative finance (real options) and environmental economics. He was previously Professor and Associate Dean at HEC Paris.Jonathan Gheyssens is finishing his PhD in Economics at the NADEL Center for Development and Cooperation at the ETH Zurich and is a research assistant under Prof. Chesney's chair at the Institut for Banking and Finance, University of Zurich. His researches are focused on real options, environmental and climate economics and REDD schemes. He has been teaching the Environmental Finance course at the University of Zurich with Prof. Chesney for the past four years.Luca Taschini is a Research Fellow at the Grantham Research Institute on Climate Change and the Environment at the London School of Economics and Political Science and a Senior Dahrendorf Research Fellow at LSE. He works mostly on the theory of market-based instruments, energy economics and technology change. In the climate and energy policy arena, he has published articles on designing cap-and-trade programs,  technology policies, and the Clean Development Mechanism. Luca holds a Ph.D. in Economics from the University of Zurich and is also a Fellow of the CESifo research network. He previously hold a visiting scholar position at the Joint Program on the Science and Policy of Global Change at Massachusetts Institute of Technology.

1 Introduction.- 2 The Issue of Climate Change.- 3 The Rise of the Emission Markets.- 4 The Economics of Mitigation Strategies.- 5 The Finance of Environment Investments.- 6 The Emission Price Dynamics.- Bibliography.