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 | Sustainable development | |
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| | Quantitative Finance and Sustainable Development Chair | |
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The Quantitative Finance and Sustainable Development Chair at the Université de Paris Dauphine has opened as part of the Institut Europlace de Finance for the 2006-2007 academic year.
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 A group's commitment to sustainable development
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With this initiative, Calyon has committed to applying the corporate values of Crédit Agricole, which are based on building long-term relationships with clients, and thus with society in general, and imply making a significant contribution to developing solutions that serve the public interest.
The Quantitative Finance and Sustainable Development Chair is an expression of Calyon's determination to create a balance between economic, environmental and social considerations by using its quantitative finance expertise to promote sustainable development.
It has become indispensable for the world's economies, markets and financial mechanisms to anticipate the implications and risks inherent in climate and environmental change.
The purpose of the university chair is to use quantitative techniques to show how finance-based solutions can be wedded to the techniques proposed by sustainable development specialists.
An approach combining sustainable development issues and quantitative finance solutions | |
The concept underlying the chair itself is built on three foundations:
- Applying quantitative finance expertise to the analysis and assessment of environmental risks,
- Creating suitable mechanisms and tools for regulating and hedging these new risks that relate, among other things, to energy, climate, biodiversity, social imbalances and cultural diversity,
- Integrating these long-term risks into the financial assessment of companies.
The work carried out by Calyon and its partners will initially relate to energy and its environmental consequences: energy and CO2 markets, climate change, impact on the environment and the interaction between energy and water. Four areas of research will be developed:
- Financial aspects of intergenerational allocation efficiency and equity
- New resources and new risks
- Role of financial markets in sustainable development
- Quantitative analytical methodology
Opportunity for innovative collaboration between specialists | |
Calyon has chosen to favour innovative, high value-added solutions in all of its business lines. Research at Calyon involves some 200 people and is carried out by dedicated staff within each area of activity specialized in product evaluation, hedging analysis and risk assessment. These R&D teams are also engaged in ongoing discussions with operating staff involved in trading, tracking results and risk control and monitoring, and with the larger financial research and university communities.
The university chair is organized in a similar fashion around Pierre-Louis Lions, a quantitative mathematics professor at the Collège de France and chairman of the new chair's Scientific Board. The chair includes mathematics and quantitative finance specialists working with leading environmental and sustainable development experts and with Jean-Michel Lasry, the head of quantitative research at Calyon's Capital Markets division, and its project sponsor.
In addition to the support of Calyon, the Université Paris Dauphine and EDF, the Quantitative Finance and Sustainable Development Chair will also benefit from access to numerous research and training centers and its association with the financial services and sustainable development communities as a whole.
It will thus be able to explore a new field of research and creative endeavour, develop business lines with dual sets of skills and enhance the role accorded to sustainable development in society by integrating it into the workings of finance.
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