
	Thursday, June 20
8:00 pm	Opening Remarks James Poterba, President of NBER and Mitsui Professor of Economics at Massachusetts Institute of Technology Shijun Cheng, Chair Professor of Accounting and Executive Dean, Shanghai Advanced Institute of Finance (SAIF), Shanghai Jiao Tong University
8:14 pm	Session I Chair: Hong Yan, Shanghai Advanced Institute of Finance (SAIF), Shanghai Jiao Tong University
8:15 pm	Counterproductive Sustainable Investing:the Impact Elasticity of Brown and Green Firms Samuel M. Hartzmark, Boston College and NBER Kelly Shue, Yale University and NBER Discussant: Yongjun Tang, University of Hong Kong
8:50 pm	The ESG-Innovation Disconnect: Evidence from Green Patenting Lauren Cohen, Harvard University and NBER Umit Gurun, University of Texas at Dallas Quoc H. Nguyen, DePaul University Discussant: Xiaoyun Yu, SAIF
9:25 pm	Transition Risk under Capital Misallocation: The Deployment of Solar Power Plants in China Zhanhui Chen, Hong Kong University of Science and Technology Zhuang Chu, Hong Kong University of Science and Technology Discussant: Hao Liang, Singapore Management University
10:00 pm	Break
10:09 pm	Session II Chair: Jun Pan, Shanghai Advanced Institute of Finance (SAIF), Shanghai Jiao Tong University
10:10 pm	Carbon Bubble, Stranded Assets and the Path of Carbon Emission Reduction Feng Dong, Tsinghua University Yandong Jia, The People's Bank of China Haoning Sun, Tsinghua University Discussant: James B. Bushnell, University of California, Davis and NBER
10:45 pm	Green Credit, TFP Heterogeneity and Allocation Efficiency Yushan Xu, Shanghai Advanced Institute of Finance, SITU Hong Yan, Shanghai Advanced Institute of Finance Discussant: Kai Li, Peking University HSBC Business School (PHBS)
11:20 pm	Adjourn
	Friday, June 21
7:59 am	Session III Chair: James Poterba, Massachusetts Institute of Technology and NBER
8:00 am	Climate Transition Risk and the Energy Sector Viral V. Acharya, New York University and NBER Stefano Giglio, Yale University and NBER Stefano Pastore, New York University Johannes Stroebel, New York University and NBER Zhenhao Tan, Yale University Discussant: Deborah J. Lucas, Massachusetts Institute of Technology and NBER
8:35 am	Carbon Home Bias (slides) Patrick Bolton, Columbia University Marc Eskildsen, Copenhagen Business School Marcin Kacperczyk, Imperial College London Discussant: Laura Starks, University of Texas at Austin and NBER
9:10 am	Keynote Address: Climate Change, Directed Innovation, and Energy Transition: The Long-Run Consequences of the Shale Gas Revolution Daron Acemoglu, Massachusetts Institute of Technology and NBER (joint work with Philippe Aghion, Lint Barrage and David Hémous)
10:00 am	Break
10:09 am	Session IV Chair: Jiang Wang, Massachusetts Institute of Technology, Shanghai Advanced Institute of Finance, and NBER
10:10 am	The Real Effects of China’s Carbon Dioxide Emissions Trading Program (slides) Jingzhe Liu, Tsinghua University Hao Wang, Tsinghua University Discussant: Diego R. Känzig, Northwestern University and NBER
10:45 am	Ray of Hope? China and the Rise of Solar Energy Ignacio Banares-Sanchez, London School of Economics Robin Burgess, London School of Economics Dávid László, London School of Economics John Van Reenen, London School of Economics and NBER Pol Simpson, London School of Economics Yifan Wang, London School of Economics Discussant: Ravi Jagannathan, Northwestern University and NBER
11:20 am	Closing Remarks Hong Yan, Chair Professor of Finance and Deputy Dean, Shanghai Advanced Institute of Finance (SAIF), Shanghai Jiao Tong University James Poterba, President of NBER and Mitsui Professor of Economics at Massachusetts Institute of Technology
11:30 am	Adjourn

Participants

Ali Abolghasemi, Saint Mary's University
Daron Acemoglu, Massachusetts Institute of Technology and NBER
Viral V. Acharya, New York University and NBER
Manuel Adelino, Duke University and NBER
Philippe Aghion, London School of Economics
Douglas Almond, Columbia University and NBER
Jennie Bai, Georgetown University and NBER
Min Bai, University of Science and Technology Beijing
Jaroslav Borovička, New York University and NBER
James B. Bushnell, University of California, Davis and NBER
Meghan R. Busse, Northwestern University and NBER
Bingfeng Cen, Shanghai University of Finance and Economics
Hui Chen, Massachusetts Institute of Technology and NBER
Jianqiang Chen, Ocean University of China
Tai-Yuan Chen, Hong Kong University of Science and Technology
Ying Chen, National University of Singapore
Zhanhui Chen, Hong Kong University of Science and Technology
Jiang Cheng, University of New South Wales
Shijun Cheng, Shanghai Advanced Institute of Finance (SAIF), Shanghai Jiao Tong University
Zhuang Chu, Hong Kong University of Science and Technology
Lauren Cohen, Harvard University and NBER
Kent D. Daniel, Columbia University and NBER
Lucas W. Davis, University of California, Berkeley and NBER
Tian Deng, Chinese University of Hong Kong, Shenzhen
Winston Wei Dou, University of Pennsylvania and NBER
Janice C. Eberly, Northwestern University and NBER
Robert F. Engle III, New York University and NBER
Marc Eskildsen, Copenhagen Business School
Ying Fan, The Hong Kong Polytechnic University
Zhang Fan, University of International Business and Economics
John Fan Zhang, Macau University of Science and Technology
Bright Godigbe, Washington University in St Louis
Paul Gompers, Harvard University and NBER
Yuting Gong, Shanghai University
Valentin Haddad, University of California, Los Angeles and NBER
Bing Han, University of Toronto
Rubin Hao, University of Macau
Samuel M. Hartzmark, Boston College and NBER
Danae Hernandez-Cortes, Arizona State University and NBER
Stephen P. Holland, University of North Carolina at Greensboro and NBER
Claire Yurong Hong, Shanghai Advanced Institute of Finance
Weiwei Hu, Peking University, HSBC Business School
Koichiro Ito, University of Chicago and NBER
Ravi Jagannathan, Northwestern University and NBER
Qiong Ji, Xi'an Jiaotong-Liverpool University
Jialing Jiang, Beijing Union University
Hao Jin, Beihang University
Lawrence J. Jin, Cornell University and NBER
Doureige Jurdi, La Trobe University - Business School
Marcin Kacperczyk, Imperial College London
Chun Kuang, University of International Business and Economics
Diego R. Känzig, Northwestern University and NBER
Yihui Lan, University of Western Australia
Kai Li, Peking University HSBC Business School (PHBS)
Michael Li, La Trobe University
Tong Li, Xiamen University
Wei Li, East China Normal University
Weiping Li, Sun Yat-sen University
Yubin Li, Harbin Institute of Technology Shenzhen
Zongyuan Li, National University of Ireland, Galway
Zhang Liandong, Singapore Management University
Hao Liang, Singapore Management University
Ke Liao, University of Electronic Science and Technology of China
Rose Liao, Rutgers University
Wen Ju Liao, Minjiang University
Jingfeng Liu, SAIF, SJTU
Junqi Liu, Xiamen University
Yunting Liu, Peking University
Ziqi Liu, SAIF
Deborah J. Lucas, Massachusetts Institute of Technology and NBER
Jinbo Luo, Lanzhou University
Xingguo Luo, Zhejiang University

Hayley Ma, University of Technology Sydney
Weiya Mao, SAIF
William Mbanyele, Shandong University
Xiangyuan Meng, Shandong Univ of Finance and Economics
Adair Morse, University of California, Berkeley and NBER
Rose Neng Lai, University of Macau
Jun Pan, Shanghai Jiao Tong University
Markus Pelger, Stanford University and NBER
Dinh Phan, La Trobe University
James M. Poterba, Massachusetts Institute of Technology
Andrew Pua, De La Salle University
Raunaq Pungaliya, SKK Graduate School of Business
Yue Qiu, Shanghai University of Finance and Economics
Adriano A. Rampini, Duke University and NBER
K. Geert Rouwenhorst, Yale University
Nimesh Salike, Xi'an Jiaotong-Liverpool University
Paola Sapienza, Northwestern University and NBER
Edson R. Severnini, Carnegie Mellon University and NBER
Michael Shen, National University of Singapore
Yun Shen, University of Technology Sydney
Kelly Shue, Yale University and NBER
Hilary Sigman, Rutgers University and NBER
Pol Simpson, London School of Economics
Laura Starks, University of Texas at Austin and NBER
Haoning Sun, Tsinghua University
Mingwei Sun, Australian Institute of Business
Hao-Chang Sung, National Chung Cheng University
Yongjun Tang, University of Hong Kong
Juan Tao, Xi'an Jiaotong-Liverpool University
Kevin Tseng, The Chinese University of Hong Kong
S. Vish Viswanathan, Duke University and NBER
Kam-Ming Wan, Hanken School of Economics
Hao Wang, Tsinghua University
Haoyue Wang, Shanghai Advanced Institute of Finance, SITU
Jiang Wang, Massachusetts Institute of Technology and NBER
Yabin Wang, NTNU
Yanan Wang, Zhongnan University of Economics and Law
Yang Wang, The University of Sydney
Yingzi Wang, Tsinghua University
Youan Wang, Xiamen University
Michael Weber, University of Chicago and NBER
Helen Wei, SAIF
Ping Wei, Central South University
Rohan Williamson, Georgetown University and NBER
Mark Wu, Gabelli School of Business, Roger Williams University
Yingying Wu, Xi'an Jiaotong-Liverpool University
Jinhua Xu, Guangdong University of Technology
Yushan Xu, Shanghai Advanced Institute of Finance, SITU
Rui Xue, La Trobe University - Business School
Hong Yan, Shanghai Advanced Institute of Finance
Jubo Yan, Nanyang Technological University
Wentao Yao, Xiamen University
Zhang Yitian, SAIF
Luping Yu, Xiamen University
Tingyu Yu, University of Zurich
Xiaoyun Yu, SAIF
Xueying Yuan, Guangdong University of Technology
Yolanda Yulong Wang, Shenzhen University
Baolin Zhang, Beijing Forestry University
Chu Zhang, HKUST
Huacheng Zhang, University of Edinburgh
Ning Zhang, Xi'an Jiaotong-Liverpool University
Ziyang Zhang, Shanghai Advanced Institute of Finance
Yixiu Zhao, Harbin Engineering University
Xingjian Zheng, SAIF
Ge Zhou, Zhejiang University
Lei Zhou, National University of Singapore
Yao Zhou, Shanghai Jiao Tong University
Zoey Zhou, HKUST
Qiaoqiao Zhu, Queensland University of Technology
Wenyu Zhu, Renmin University of China