
Irene Monasterolo
Irene Monasterolo Ph.D.- Telephone:
- +43 1 31336 4773
- Email:
- irene.monasterolo@wu.ac.at
- About me:
- Irene Monasterolo is an Assistant Professor of Climate Economics and Finance at the Institute for Ecological Economics, Vienna University of Economics and Business and a visiting research fellow at Boston University, USA. Irene holds a Ph.D. in Agri-food Economics and Statistics from the University of Bologna, and two post-doctoral specializations in Cambridge (UK) and Boston (USA). Irene has extensive experience in developing policy-relevant academic research on how to align the financial system to the Sustainable Development Goals and the Paris Agreement. Irene has contributed to develop the first climate stress-test methodology, applied to both commercial and development banks’ portfolios for introducing climate risk factors into financial risk metrics; the first financial macro-network model for climate policy’s risk financial risk evaluation; the EIRIN Stock-Flow Consistent behavioural model to assess financial and distributive effects of green fiscal, monetary policies and green bonds. Her research has been published on top-ranked academic journals, such as Nature Climate Change and Climatic Change. In addition, Irene has been working as a consultant for major development banks (e.g. World Bank, European Investment Bank, Inter-American Development Bank) on climate change mitigation and adaptation. Finally, she leads on the Research Area ‘Environment-Economy Interactions’ of the European Association for Evolutionary Political Economy (EAEPE), of which she is also a council member since 2018.
Affiliation
CV
-
since
2020
- Visiting researcher at the Energy department, IIASA 2019
- Precourt Visiting Scholar at Stanford University since 2017
- Assistant Professor, Climate Economics and Finance 2016
- Visiting Scholar at Boston University 2016
- European Investment Bank consultant 2015-2017
- Senior post doc, Boston University 2015
- Inter-American Development Bank consultant 2014-2015
- Confirmed researcher, Italian National Council of Research 2012-2015
- Post Doc Global Sustainability Institute Cambridge (UK) 2012-2013
- Erasmus Mundus visiting post-doc, Belgrade university (Serbia) 2012-2017
- World Bank consultant 2009-2012
- PhD candidate, Universita' di Bologna
Researcher Identifier
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No researcher identifier found.
Awards and Honors
- 2018
- OeNB Maria Schaumeyer Habilitation grant
- 2015
- AISSEC Best PhD Thesis in Development and Transition Economics
Classifications
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No classifications found.
Expertise
- ESG performance
- Green sovereign bonds
- Climate Stress-test
- Climate finance
- Stock-Flow Consistent models
- Fossil fuel subsidies
Activities
Publications
Journal article
2020 | Monasterolo, Irene, de Angelis, Luca. 2020. Blind to carbon risk? An Analysis of Stock Market’s Reaction to the Paris Agreement. Ecological Economics. 170 106571 | (Details) | |
Monasterolo, Irene. 2020. Climate change and the financial system. Annual Reviews of Resource Economics. 12 1-22. | (Details) | ||
Monasterolo, Irene. 2020. Embedding Finance in the Macroeconomics of Climate Change: Research Challenges and Opportunities Ahead. CESifo Forum. 4 25-33.
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Hafner, Sarah, Anger-Kraavi, Annela, Monasterolo, Irene, Jones, Aled. 2020. Emergence of New Economics Energy Transition Models: A Review. Ecological Economics. 177 (10677) | (Details) | ||
2019 |
Brasili, cristina, Calia, Pinuccia, Monasterolo, Irene. 2019. Mapping citizens’ identification with the EU. Regional Science and Urban Economics. 11 (4), 655-672.
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Monasterolo, Irene, Raberto, Marco. 2019. The impact of phasing out fossil fuel subsidies on the low-carbon transition. Energy Policy. 124 355-370.
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Monasterolo, Irene, Roventini, Andrea, Foxon, Tim J. 2019. Uncertainty of climate policies and implications for economics and finance: an evolutionary economics approach. Ecological Economics. 163 177-182.
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2018 | Stolbova, Veronika, Monasterolo, Irene, Battiston, Stefano. 2018. A Financial Macro-Network Approach to Climate Policy Evaluation. Ecological Economics. 149 239-253. | (Details) | |
Monasterolo, Irene, Zheng, Jiani I., Battiston, Stefano. 2018. Climate Transition Risk and Development Finance: A Carbon Risk Assessment of China’s Overseas Energy Portfolios. China Economic Journal. 26 (6), 116-142. | (Details) | ||
Galford, Gillian , Fernandez, Margarita, Joe, Roman, Monasterolo, Irene, Ahamed, Sonya, Fiske, Greg, Kaufman, Les, Gonzalez-Diaz, Patricia. 2018. Cuban land use and conservation, from rainforests to coral reefs. Bulletin of Marine Science. 94 (2), 171-191.
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Monasterolo, Irene, Raberto, Marco. 2018. The impact of phasing out fossil fuel subsidies on the low-carbon transition. Energy Policy. (124), 355-370. | (Details) | ||
2017 | Battiston, Stefano, Mandel, Antoine , Monasterolo, Irene, Schuetze, Franziska, Visentin, Gabriele. 2017. A climate stress test of the financial system. Nature Climate Change 7, 283 -288. | (Details) | |
Monasterolo, Irene, Howarth, Candice. 2017. Opportunities for knowledge co-production across the energy-food-water nexus: Making interdisciplinary approaches work for better climate decision making. Environmental Science and Policy 75, 103-110.
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Monasterolo, Irene, Raberto, Marco. 2017. The EIRIN Flow-of-funds Behavioural Model of Green Fiscal Policies and Green Sovereign Bonds. Ecological Economics 144, 228-243. | (Details) | ||
Monasterolo, Irene, Battiston, Stefano, Janetos, Anthony C., Zengh, Zoey. 2017. Vulnerable yet relevant: the two dimensions of climate-related financial disclosure. Climatic Change , 1-13.
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Chapter in edited volume
2020 |
Monasterolo, Irene, Volz, Ulrich. 2020. Addressing climate-related financial risks and overcoming barriers to scaling up sustainable investments. In: Addressing climate-related financial risks and overcoming barriers to scaling up sustainable investments, Hrsg. G20 Saudi Arabia: T20’s Task Force 2 “Climate Change and Environment”, 1-17. https://t20saudiarabia.org.sa/en/briefs/Pages/Policy-Brief.aspx?pb=TF2_PB23: -
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Monasterolo, Irene, Battiston, Stefano. 2020. Assessing forward-looking climate risks in financial portfolios: a science-based approach for investors and supervisors. In: NGFS Occasional Papers Case Studies of Environmental Risk Analysis Methodologies. Hrsg. NGFS, 30-40. NGFS website: -
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Battiston, Stefano, Billio, Monica, Monasterolo, Irene. 2020. Pandemics, climate and public finance: how to strengthen socio-economic resilience across policy domains. In: A New World Post COVID-19 Lessons for Business, the Finance Industry and Policy Makers, Hrsg. Billio, M., Varotto, S. 259-268. ISBN [ebook] 978-88-6969-442-4: -
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Battiston, Stefano, Guth, Martin, Monasterolo, Irene, Nuerdorfer, Benjamin, Pointner, Wolfgang. 2020. The exposure of Austrian banks to climate-related transition risk. In: OeNB Financial Stability Report, 40, Hrsg. OeNB, 31-44. OeNB website: OeNB.
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2019 |
Battiston, Stefano, Jakubik, Petr, Monasterolo, Irene, Riahi, Keywan, van Ruijven, Bas. 2019. Financial Stability Report. In: Climate Risk Assessment of the sovereign bond of portfolio of European Insurers, Hrsg. European Insurance and Occupational Pension Fund Authority (EIOPA), 69-89. EIOPA: -
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2018 | Lamperti, Francesco, Monasterolo, Irene, Roventini, Andrea. 2018. Climate Risks, Economics and Finance: Insights from Complex Systems. In: The Systemic Turn in Human and Natural Sciences. A Rock in The Pond, Hrsg. Ulivi, L. 1-23. Contemporary Systems Thinking: Springer. | (Details) |
Paper presented at an academic conference or symposium
2018 | Battiston, Stefano, Monasterolo, Irene. 2018. A carbon risk assessment of central banks’ portfolios under a 2C aligned climate scenarios. Scaling up Green Finance: The Role of Central Banks, Bundesbank, Germany, 8.11-9.11. Invited Talk | (Details) | |
Naqvi, Syed Ali Asjad, Dunz, Nepomuk, Monasterolo, Irene. 2018. Climate Policies in a North-South Stock-Flow Consistent Model. EAEPE Annual Conference, Nice, France, 06.07-08.07. | (Details) | ||
Dunz, Nepomuk, Monasterolo, Irene, Raberto, Marco. 2018. Don’t forget climate sentiments: real and financial markets’ reactions to climate risks. EAEPE Annual conference, Nice , EAEPE, France, 06.09-08.09. | (Details) | ||
2017 | Monasterolo, Irene, Raberto, Marco. 2017. Is There a Role for Central Banks in the Low-Carbon Transition? A Stock-Flow Consistent Modelling Approach. Central Banking and Green Finance, Dutch Central Bank, Netherlands, 28.11-29.11. Invited Talk | (Details) |
Working/discussion paper, preprint
2019 |
Monasterolo, Irene, Battiston, Stefano. 2019. A climate risk assessment of sovereign bonds’ portfolio.
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Monasterolo, Irene, de Angelis, Luca. 2019. Blind to carbon risk? An Analysis of Stock Market’s Reaction to the Paris Agreement.
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Monasterolo, Irene. 2019. Climate change and the financial system. | (Details) | ||
Monasterolo, Irene, Roventini, Andrea, Foxon, Tim J. . 2019. Understanding uncertainty of climate policies and implications for economics and finance: an evolutionary economics approach. | (Details) | ||
2018 | Battiston, Stefano, Monasterolo, Irene. 2018. The Climate Target Gap Is Widening. Can We Close It by Including Climate Finance in SSPs? | (Details) | |
Dunz, Nepomuk, Monasterolo, Irene, Raberto, Marco. 2018. The fiscal and financial implications of low-carbon transition policies: insights from emerging countries.
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Research report, expert opinion
2018 | Campiglio, Emanuele, Monasterolo, Irene, Gnan, Ernest. 2018. Green finance, regulation and monetary policy. Vienna:WU, OeNB, SUERF. | (Details) |
Practice handbook, manual
2019 |
Monasterolo, Irene, Battiston, Stefano, Mandel, Antoine. 2019. CLIMAFIN handbook: pricing forward-looking climate risks under uncertainty.
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Projects
- 2020
- BMKSC 2020 Green Finance (2020-2021) (Details)
- 2019
- GreenFin (2019-2021) (Details)
- Greening Energy market and Finance (2019-2022) (Details)
- Closing the gap between finance and sustainability: A novel methodological framework for climate policies’ evaluation (2019-2020) (Details)
- Climate Exposure Tool for Financial Risk Analysis (2019-2020) (Details)
- Assessing climate-led social-ecological impacts and opportunities for resilience pathways in the EU bioeconomy (2019-2021) (Details)
- CASCADES (2019-2023) (Details)
- 2018
- Analysis of Carbon Risks in Financial Markets and Austrian Portfolios (2018-2020) (Details)
- Possibilities of consciously shaping mobility through the application of the principle of sufficiency in the Austrian context (2018-2019) (Details)
- 2016
- Perception and Evaluation of Regional and Cohesion policies by Europeans and Identification with the Values of Europe (2016-2019) (Details)