Macroeconomic Implications of Climate-Related Risks: Challenges and Opportunities for the Low-Carbon Transition

We are pleased to announce a Workshop on “Macroeconomic Implications of Physical and Transition Risks: Challenges and Opportunities for the Low-Carbon Transition,” jointly organized by Scuola Superiore Sant’Anna, IUSS Pavia, and the University of Bologna, and sponsored by the PRIN research projects:

–          “Evaluating Climate Physical and Transition Risks in Italy” (ECliPTIc);

–          “SteeriNg financE toWards green technologieS: a hybrid experimental-computational macro approach” (NEWS)

The event will take place on 23-25 February 2026 at Scuola Superiore Sant’Anna, Pisa, Italy.

The program will feature presentations by senior experts and young scholars, fostering dialogue between established research leaders and emerging voices in the climate macroeconomics and finance research. Moreover, the workshop includes a Keynote Lecture by Jean-Francois Mercure (University of Exeter) and a Roundtable with Jean-Francois Mercure, Francesca Diluiso (Bank of England) and Andrea Roventini (Scuola Superiore Sant’Anna).

Overview

The workshop will focus on understanding how climate-related physical and transition risks shape macroeconomic dynamics and the path towards a low-carbon economy. Modern economies are increasingly exposed to the growing frequency and magnitude of physical risks, as well as the uncertainty surrounding transition risks. This workshop gathers researchers working at the intersection of macroeconomics, environmental economics, and climate science to quantify the near- to medium-run macroeconomic consequences of climate change and their implications for the low-carbon transition. The aim is to analyze interactions between environmental and economic systems and to uncover the mechanisms influencing the timing, pace, and feasibility of the green transition. This workshop gathers researchers working at the intersection of macroeconomics, environmental economics and climate science to quantify the near- to medium-run macroeconomic consequences of climate change risks and their implications for the low-carbon transition. The aim is to analyze the complex interactions between environmental and economic systems to unveil the mechanisms that may affect the timing, pace and the likelihood of the green transition.

We welcome contributions addressing, among others, the following themes:

–          Computational modeling of climate-economy interactions: agent-based models (ABMs), behavioral macroeconomic models, stock-flow consistent (SFC) models, system dynamics, input-output analysis, network-based approaches.

–          Systemic risks in the climate-macro-finance nexus: regional, sectoral, and macroeconomic implications of physical and transition risks.

–          Quantitative impact assessments of climate-related shocks: supply chain disruptions, direct and indirect network amplifications, financial instability, capital reallocation.

–          Modeling of the financial system’s role in climate transitions: from green and sustainable finance and investment policies to mitigate financial stability concerns.

–          Political economy and behavioral perspectives on climate policy adoption and effectiveness.

–          Policy and prudential frameworks for climate mitigation and adaptation: evaluating market-based, non-market-based policies and stress-test frameworks.

We particularly welcome interdisciplinary contributions that integrate macroeconomics, finance, and climate science to enhance the understanding of the complex climate-economic interactions.

Practical Information

YSI will cover the accommodation and travel expenses for a selected number of Young Scholar