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, The University of Hong Kong (HKU)
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 (HKUST)
Zhuang Chu, Hong Kong University of Science and Technology (HKUST)

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
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 and Political Science (LSE)
Robin Burgess, London School of Economics and Political Science (LSE)
Dávid László, London School of Economics and Political Science (LSE)
John Van Reenen, London School of Economics and Political Science (LSE) and NBER
Pol Simpson, London School of Economics and Political Science (LSE)
Yifan Wang, London School of Economics and Political Science (LSE)

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