Defense of Vincent Bouchet

Thesis defended on the 10th of June 2021 at 2:00 pm and it hold by videoconference

Abstract:

The interactions between climate change and financial institutions are still insufficiently explained. Through economic research and a managerial analysis of the practices of a French institutional investor, this thesis analyses the twofold problem faced by these organisations: measuring their extrafinancial impact while managing new financial risks induced by climate change. We first show how a global framework - the United Nations' sustainable development goals - is edited by the organisation's actors to meet the challenges of measuring the impact of responsible investment. We then show that an abrupt energy transition scenario significantly increases the financial risks of companies in certain sectors and that this risk is only partially taken into account by the financial markets. The analysis of practices at the micro level shows that this lack of consideration can be explained by the impact of existing routines on the construction and use of new climate risk management tools and by perceptions of risk that are too far from those of climatologists.

Jury members

M. Franck AGGERI	Mines ParisTech	Rewiever
M. Sébastien POUGET	Université Toulouse 1 Capitole	Reviewer
Mme Helena CHARRIER	Groupe Caisse des Dépôts	Examinator
Mme Bouchra M’ZALI	Université du Québec à Montréal	Examinator
Mme Patricia CRIFO	Ecole polytechnique	Co-Director
M. Nicolas MOTTIS	Ecole polytechnique	Co-Director

Keywords: Climate risks, Financial risks, Responsible investment, Management tools

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