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MONASTEROLO Irene

Irene MONASTEROLO
Irene MONASTEROLO

Assistant Professor of Climate Economics and Finance

More Info

D5.3.034

Welthandelsplatz 1/D5/level 3
1020 Vienna, Austria

Research Interest

  • Climate change impact on the growth-finance-inequality nexus

  • Indicators of financial portfolios’ exposure to carbon stranded assets

  • Climate stress test of the financial system and macro-financial networks

  • Alignment of development banks’ flows to the 1.5 degrees target and the Sustainable Development Goals

  • Stock-Flow Consistent Agent Based and System Dynamics models

  • Distributive effects of green monetary policies and green sovereign bonds

  • Climate change adaptation through the food-water-energy nexus

  • Role of quality of governance on EU funds absorption and citizens’ perception

Current Projects

  • “Greening energy market and finance” (GrEnFin). Sponsor:Erasmus + Knowledge Alliance Action,EPPKA2 - Cooperation for innovation and the exchange of good practices. Role: Project lead partner. Duration: December 2019 – November 2023.

  • International Network for Sustainable Financial Policy Insights, Research, and Exchange (INSPIRE) grant. Role: Project partner. Duration: September 2019 – March 2020.

  • “Scaling up green finance to achieve the climate and energy targets: an assessment of macro-financial opportunities and challenges for Austria” (GREENFIN)

    Sponsor: Austrian Climate Research Program (ACRP). Role: Principal investigator. Duration: December 2019 until June 2021.

  • FET Innovation Launchpad “CLIMEX - Climate Exposure Tool for Financial Risk Analysis”

    Sponsor: European Commission, FETOPEN-03-2018-2019-2020 (CSA). Role: Project partner. Duration: May 2019 – April 2020.

  • “BIOCLIMAPATHS-Assessing climate-led social-ecological impacts and opportunities for resilience pathways in the EU bioeconomy”

    Sponsor: European Commission, ERANET-AXIS grant. Role: Principal investigator. Duration: November 2019 – October 2021.

  • "CASCADES - CAScading Climate risks: towards ADaptive and resilient European Societies"
    Sponsor: European Commission, H2020. Role: Project partner. Duration: September 2019 - August 2023

  • Austrian National Bank’s Maria Schaumeyer Habilitationsstipendium Closing the gap between finance and sustainability: A novel methodological framework for monetary policies’ evaluation” Duration: March 2019 – September 2020.

  • “Analysis of Carbon Risks in Financial Markets and Austrian Portfolios” (RiskFinPorto)

    Sponsor: Austrian Climate Research Program (ACRP). Role: Project partner. Duration: May 2017 - March 2019.

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Recent Publications

  • Monasterolo, I. (2020). Climate Change and the Financial System. Annual Review of Environment and Resources, Volume 12, forthcoming.

  • Monasterolo, I., de Angelis, L. (2020). Blind to carbon risk? An Analysis of Stock Market’s Reaction to the Paris Agreement. Ecological Economics, 170, 1-10, doi.org/10.1016/j.ecolecon.2019.106571

  • Monasterolo, I., Roventini, A., and Foxon, T. (2019). Uncertainty of climate policies and implications for economics and finance: an evolutionary economics approach. Ecological Economics, 163,1-10.

  • Monasterolo, I., Raberto, M. (2019). The impact of phasing out fossil fuel subsidies on the low-carbon transition. Energy Policy, 124,355-370.

  • Dunz, N., Naqvi, A., Monasterolo, I. (2019). Climate Transition Risk, Climate Sentiments, and Financial Stability in a Stock-Flow Consistent approach. Ecological Economic Papers, 23 (R&R at Journal of Financial Stability).

  • Monasterolo, I., Jiani I. Zheng and Battiston, S. (2018). Climate transition risk and development finance: a climate stress-test of China’s overseas energy portfolios. China & World Economy 26(6), 116–142. Input to the G20 Task Force “An International Financial Architecture for Stability and Development”.

  • Monasterolo, I., Raberto, M (2018). The EIRIN flow-of-funds behavioural model of green fiscal policies and green sovereign bonds. Ecological Economics, 144, 228-243.

  • Stolbova, V., Monasterolo, I. Battiston, S. (2018). A financial macro-network approach to climate policies evaluation, Ecological Economics, 149, 239-253.

  • Monasterolo, I., Battiston, S., Janetos, A. C., & Zheng, Z. (2017). Vulnerable yet relevant: the two dimensions of climate-related financial disclosure. Climatic Change145(3-4), 495-507.

  • Battiston S., Mandel A, Monasterolo I., Schuetze F. & G. Visentin (2017). A Climate stress-test of the EU financial system. Nature Climate Change, 7, 283–288.

  • Howarth C., Monasterolo I. (2016). Understanding barriers to decision making in the energy-food-water nexus: The added value of interdisciplinary approaches. Environmental Science & Policy Journal, Volume 61, July 2016, Pages 53–60.

  • Monasterolo, I., Pasqualino, R., Janetos, A.C. and Jones, A. (2016). Sustainable and Inclusive Food Systems through the Lenses of a Complex System Thinking Approach - A Bibliometric Review. Agriculture, 6(3), p.44.

  • Monasterolo, I., Raberto, M. (2016). No Contest: Green versus Brown Subsidies under TTIP trade agreement. In Issues in Brief, The Pardee Center Series, Sept. 2016.

  • Pasqualino R., Jones AW., Monasterolo I., Phillips A. (2015). Understanding Global Systems Today—A Calibration of the World3-03 Model between 1995 and 2012. Sustainability. 2015; 7(8):9864-9889.

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FIDES Link to Publications

Personal Grants

  • Stanford Sustainable Finance Initiative: visiting scholar fellowship (March – Sept 2019)

  • WU visiting research mobility, “Greening monetary policies: the missing link between finance and sustainability?”, Sant’Anna School of Advanced Studies, Pisa (IT), March – August 2018

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Research Prizes

  • Young Investigator Training Program – 2019 ECMCC-IV ECONOMETRIC MODELS OF CLIMATE CHANGE, 2019.

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