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The Climate Challenge

On October 27, experts explored how the uncertainty in climate change is impacting the economy.

With the rise in environmental regulations and policies around the world, more organizations are implementing measurable sustainability activities. How are these efforts affecting the economies of the EMEA region and the world?

On October 27, leading experts from Booth and beyond came together to discuss the impact of climate change on the economy and other topics related to environmental, social, and corporate governance. Nobel laureate Lars Peter Hansen presented his research on the uncertainty in climate models and the implications for policymakers. Following his presentation, Hansen discussed his research with Sir Ronald Cohen, a venture capitalist, private equity investor, and social innovator, and with Mili Fomicov, ’11, a climate finance and investment researcher. Their conversation was moderated by Booth deputy dean Randall S. Kroszner.

This was the second event in Chicago Booth’s Future of Capitalism series. You can now watch the full event recording and explore key takeaways. 

Explore Takeaways

Event Speakers
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Lars Peter Hansen

Lars Peter Hansen is an internationally known leader in economic dynamics and the recipient of the 2013 Nobel Prize in Economic Sciences. He currently serves as the David Rockefeller Distinguished Service Professor in Economics, Statistics at Booth and The College. He’s also research director of the Becker Friedman Institute for Economics. Hansen recently won the 2021 RFS Michael J. Brennan Best Paper Award for Joint Research on “Pricing Uncertainty Induced by Climate Change.”

Lars Peter Hansen
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Sir Ronald Cohen

Sir Ronald Cohen is widely considered the father of impact investment and European venture capital. He cofounded the global private equity firm Apax Partners Worldwide and the impact finance and advisory nonprofit Social Finance in the United Kingdom, United States, and Israel. He currently serves as chairman of the Global Steering Group for Impact Investment, the Impact-Weighted Accounts Initiative at Harvard Business School, and The Portland Trust. His book, IMPACT: Reshaping Capitalism to Drive Real Change (2020), is a Wall Street Journal bestseller.

Sir Ronald Cohen
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Mili Fomicov, ’11

Mili Fomicov is a researcher at the Centre for Climate Finance and Investment, Imperial College London. She is also the academic director for corporate renewable procurement (India and Indonesia) at the college’s Grantham Institute. She previously served as a portfolio manager for BlackRock’s multi-asset strategies team and for J.P. Morgan’s CIO team, and managed US and Japan equity funds at Barclays. She started her career at AllianceBernstein in the US. She is a member of the Spark Change advisory board and a climate strategist for Andurand Capital.

Mili Fomicov, ’11

Event Moderator
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Randall S. Kroszner

Randall S. Kroszner is Deputy Dean for Executive Programs and Norman R. Bobins Professor of Economics at Booth. As a former governor of the Federal Reserve System, he took a leading role in developing responses to the financial crisis and in undertaking new initiatives to improve consumer protection and disclosure, including rules related to home mortgages and credit cards.

Randall S. Kroszner

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