SoFiE Financial Econometrics Summer School
"Climate Finance"
July 6 – July 10, 2026
Note: This year, the Summer School will be delivered in a hybrid format, with all instructors teaching on site. To fully benefit from in-class instruction and academic interaction, we strongly encourage participants to attend the program in person at NYU Shanghai, Shanghai, China.
The SoFiE Financial Econometrics Schools are annual week-long research-based courses for Ph.D. students and new faculty in financial econometrics. For the first two years, the Summer School was held at Oxford University’s Oxford-Man Institute and in 2014 it moved to Harvard University. In 2015 and 2016, it was held in Brussels. Since 2017, The SoFiE Financial Econometrics Summer School took place in North America, Asia and Europe. For the past eight years, the Summer School in Asia has been held at the Volatility Institute of NYU Shanghai. In 2026, we will continue this tradition at the same venue, offering participants an unparalleled opportunity to delve into and contribute to the evolving field of financial econometrics within a vibrant scholarly setting.
The editorial board for these annual series is made up of Professors Torben Andersen (Northwestern University), Francis X. Diebold (University of Pennsylvania and past President of SoFiE), Eric Ghysels (University of North Carolina, Chapel Hill, Secretary and Founding Co-President of SoFiE), Ravi Jagannathan (Northwestern and past President SoFiE), Per Mykland (University of Chicago and past President of SoFiE), Eric Renault (University of Warwick and past President of SoFiE), Neil Shephard (Harvard University) and Viktor Todorov (Northwestern University).
Course Overview:
The course is intended for Ph.D. students and researchers in statistics, econometrics and finance. It provides an advanced introduction to research at the intersection of climate change, biodiversity, and finance. It combines theoretical frameworks, empirical methods, and applied measurement approaches used to study climate and nature-related risks across asset markets, financial institutions, households, and firms. Topics include climate risk pricing in financial markets; stress testing and the transmission of climate risk through banks and other intermediaries; ESG and impact investing; climate regulation and disclosure; and the implications of climate and nature risks for household finance, housing, and insurance markets. A dedicated module focuses on nature and biodiversity economics and finance, covering measurement, exposure mapping, and emerging policy and market responses. Throughout the course, students engage closely with influential research papers and develop their own research ideas. Participants can present ongoing work and receive detailed feedback from instructors and peers.
Lecturers:
Professor Johannes Stroebel (The New York University Stern School of Business)
Johannes Stroebel is the David S. Loeb Professor of Finance at the New York University Stern School of Business. He conducts research in climate finance, household finance, social network analysis, macroeconomics, and real estate economics.
Professor Stroebel was awarded the 2023 Fischer Black Prize by the American Finance Association, given every two years to the top financial economist under the age of 40. He has won numerous other awards, including the AQR Asset Management Institute Young Researcher Prize and the Brattle Award for the best paper published in the Journal of Finance. He has also earned an Andrew Carnegie fellowship and an Alfred P. Sloan Research Fellowship in Economics. Professor Stroebel holds or has held editorial positions at the Journal of Political Economy, the Review of Economic Studies, the Journal of Finance, and Econometrica.
Professor Stroebel teaches classes on climate finance at the undergraduate, MBA, and executive education levels. He regularly provides advice to governments and firms on managing their financial risks from climate change. Among other roles, he was a member of the Climate-Related Market Risk Subcommittee at the Commodities and Futures Trading Commission (CFTC), as well as a member of a Working Group on Extreme Weather and Financial Risks at the President’s Council of Advisors on Science and Technology (PCAST). He is the Chair of the Academic Advisory Council of the Center on Regulation and Markets at the Brookings Institution.
Professor Stroebel read Philosophy, Politics, and Economics at Merton College, Oxford, where he won the Hicks and Webb Medley Prize for the best performance in Economics. In 2012, he earned a Ph.D. in Economics at Stanford University, where he held the Bradley and Kohlhagen Fellowships at the Stanford Institute for Economic Policy Research. Before joining NYU in 2013, Professor Stroebel was the Neubauer Family Assistant Professor of Economics at the University of Chicago Booth School of Business.
Professor Theresa Kuchler (The New York University Stern School of Business)
Theresa Kuchler is a Professor of Finance at NYU’s Stern School of Business. At NYU Stern, Professor Kuchler is the current John L. Vogelstein Fellow in Finance and the director of NYU Stern’s Glucksman Institute. Prior to joining NYU, she earned a Ph.D. in Economics at Stanford University. Professor Kuchler completed her undergraduate studies with a diploma in Business Economics from the University of Mannheim and spent a year as a Fulbright visiting student in the Economics department at UC Berkeley. Professor Kuchler’s research generally leverages large micro datasets to better understand questions in the areas of household, behavioral and real estate finance. A substantial body of her work explores the role of social networks in finance and economics, how individuals form expectations and the interactions between the economy and the natural world.
Course Schedule(TBD):
| Monday | Tuesday | Wednesday | Thursday | Friday |
Morning 9.30am – 12pm Shanghai |
|
Climate Risk + Asset Prices |
Climate Risk & Financial Institutions
Stress Testing |
Nature + Biodiversity I
|
Student Own Research Presentations
|
Afternoon 1.30pm – 4pm Shanghai
|
Introduction
Climate Regulation |
ESG + Impact Investing |
Household Finance / Housing Markets / Insurance Markets
|
Nature + Biodiversity II
|
|
Presentation of Research Idea:
Students prepare a presentation of an early or more mature research idea. It is preferable for the research idea to be related to the scope of the course, even though it is not strictly mandatory. Participants and lecturers discuss potential avenues to improve the paper and provide feedback to the presenter.
Applications:
Applicants should register and submit electronical materials through the following registration website: https://research.shanghai.nyu.edu/vins/sofie_summer_school_registration. The applications should include a full CV and motivation letter (half-page length) explaining why attending this course would be helpful to the applicant’s research work. All materials should be in pdf version. The application deadline is 8 May, 2026. Decisions will be emailed out by 15 May, 2026.
Fees for attending the school:
$500 for full-time Ph.D. students
$700 for full-time academics (Post-docs, Faculty, etc.)
$1000 for others (Professionals)
Confirmed admission of a selected applicants will be conditional on the fee payment in due time (details will be provided in the admission email). Fees cover the course, refreshment and coffee breaks during the program, and a welcome reception.
Travel and accommodation costs: Attendees are responsible for their own travel and accommodation costs. A list of suitable local hotels will be provided. A free welcome reception and social event will be organized during the week where students and faculty can meet informally.
Accommodation:
1) Shangri-La Qiantan Shanghai
Website: https://www.shangri-la.com/shanghai/qiantanshangrila/
Distance to campus: 500m
2) Artyzen Habitat Qiantan Shanghai
Website: https://www.artyzen.com/en/hotels/artyzen-habitat-qiantan-shanghai/
Distance to campus: 60m
Useful Links:
All accepted participants will be expected to be members of the Society for Financial Econometrics or join before their place is confirmed.
See https://www.stern.nyu.edu/