Academic Research

As part of our commitment to providing science-driven climate risk analytics that inform investments in resilience, Four Twenty Seven values the academic community’s work exploring the changing climate and its economic and financial impacts. We value collaboration with academic stakeholders, and contribute to these efforts through authoring peer-reviewed articles and book chapters as well as by providing our climate risk data for researchers studying these topics. This page highlights our publications and ongoing collaborations with researchers. If you are interested in collaborating please contact our Director, Communications, Natalie Ambrosio Preudhomme.

Peer-reviewed Publications

Ambrosio Preudhomme, N. and Mazzacurati, E. (2020). Asset-Level Physical Climate Risk Disclosure. In Values at Work (pp. 67-80). Palgrave Macmillan.

The book, Values at Work: Sustainable Investing and ESG Reporting, highlights the latest research on sustainability topics of growing interest to investors, including climate change, pollution, diversity, governance, economic inequality and others. Four Twenty Seven wrote a chapter titled “Asset-Level Physical Climate Risk Disclosure.” The chapter discusses the need for consistent, comparable metrics for physical risk disclosure, using the pharmaceutical sector as a case study to examine climate risk disclosure versus climate risk exposure. Read the book. 

Ambrosio, N., Kim, Y. H., Swann, S., & Wang, Z. (2020). Addressing Climate Risk in Financial Decision Making. In Optimizing Community Infrastructure (pp. 123-142). Butterworth-Heinemann.

The book, Optimizing Community Infrastructure: Resilience in the Face of Shocks and Stresses, examines the multiple dimensions of infrastructure that underpin resilient societies. Four Twenty Seven co-wrote a chapter with Climate Finance Advisors, called “Chapter 7 – Addressing Climate Risk in Financial Decision Making.” The chapter examines how physical climate risks can impact infrastructure assets throughout their life cycle and ways in which investors and leading institutions can identify and manage physical climate risks in infrastructure assets. Read the book.

Ambrosio, N and Kim, Y.H. (2019). Community Resilience and Adaptive Capacity: A Meaningful Investment Across Assets. In Strategies to Address Climate Change Risk in Low- and Moderate-income Communities – Volume 14, Issue 1. Federal Reserve Bank of San Francisco.

The Federal Reserve Bank of San Francisco published a set of articles about the impacts of climate change on communities and the economic implications of these risks. Four Twenty Seven contributed a piece titled “Community Resilience and Adaptive Capacity: A Meaningful Investment Across Assets.” It discusses the connection between community resilience and asset-level resilience, describing a methodology for investors to understand and promote community adaptive capacity. Read the collection.

Steinberg, Nik C. et al. (2018). Preparing Public Health Officials for Climate Change: A Decision Support Tool. California 4th Climate Change Assessment. Funded by the California Department of Natural Resources Agency.

California’s Fourth Climate Change Assessment included research on the impacts of climate change across the state to support resilience-building. As part of the assessment, Four Twenty Seven contributed the report, “Preparing Public Health Officials for Climate Change: A Decision Support Tool” and developed the California Heat Assessment Tool (CHAT) based on research that establishes local, health-based thresholds for extreme heat that help public officials, health professionals and residents understand what changing conditions mean for them.  Read California’s Fourth Climate Change Assessment Reports.

Steinberg, Nik C. (2016) The Sustainability Blindspot: A Method to Identifying Climate Risk in Global Supply Chains in Implementing Triple Bottom Line Sustainability into Global Supply Chains. GreenLeaf Publishing, Oxford, U.K. Print.

The book, Implementing Triple Bottom Line Sustainability, shares research and case studies focused on integrating social, ecological and economic sustainability into global supply chains. Four Twenty Seven’s Director Analytics, Nik Steinberg, contributed a chapter called “The Sustainability Blindspot: Identifying and Managing Climate Risk in Global Supply Chains.” The chapter explains how addressing climate risks in supply chains can go hand-in-hand with business-led climate risk reduction in communities, and provides strategies for identifying risks and prioritizing community engagement. Read the book.

Academic Partners

Paula Barreto Barsted, University of Oxford

Paula Barreto Barsted explores how the financial sector can effectively contribute to sustainable development. She has recently concluded a dissertation on climate-related financial disclosure, as part of the MSc in Environmental Change and Management at the University of Oxford. The research adopts a novel approach, based on systems thinking, to study to what extent the TCFD is changing the climate-related disclosure regime, as well as the implications for the transition to a low-carbon economy. Four Twenty Seven contributed to the study by taking part in an interview, along with 27 other organizations that are actively involved in the promotion or in the implementation of climate-related disclosure.

 

Dr. Robert Engle, Stern School of Business, New York University

Dr. Robert Engle’s research at the Volatility and Risk Institute focused on building portfolios that may hedge against climate change exposure using climate news data. Over the past decade, the economic effects of climate change have become a salient issue for many investors. As a result, investors are increasingly looking for ways to use financial markets to hedge exposure to climate change by putting together portfolios that will pay off in states of the world with particularly bad climate outcomes.

 

 

Dr. David Hsu and Darryle Ulama, Massachusetts Institute of Technology

Dr. David Hsu is an Associate Professor of Urban and Environmental Planning at MIT and Darryle Ulama is a Master’s in City Planning candidate in that department. Their current research with the Roosevelt Project explores the considerations needed for transitioning the United States to a low-carbon economy, including the infrastructure needs, funding requirements and siting considerations related to exposure to physical climate risks and renewable energy potential.

 

Xia Li, Questrom School of Business, Boston University 

Xia Li is a Ph.D candidate researching the impact of physical climate risks on firms’ adaptation strategies and their disclosed climate risks. Physical climate risks, such as heat stress, water stress, flooding, sea level rise, hurricane and typhoon caused by climate change, have been bringing impacts on firms across industries. Understanding whether and how firms adapt to climate change and respond to climate risks is extremely important. However, there are few studies on firms’ climate change adaptation strategies in management literature, and what causes firms to adapt to climate change is still unclear.

 

 

Dr. Jennifer Marlon, Yale Program on Climate Change Communication

Jennifer Marlon, Ph.D. is a climate scientist at Yale’s School of the Environment and the Yale Program on Climate Change Communication (YPCCC). Jennifer studies the relationship between climate change, extreme weather events, and human vulnerability at the Yale School of the Environment.

 

 

 

Dr. Nora Pankratz, University of California Los Angeles Luskin Center for Innovation

Dr. Pankratz researches how firms and investors respond to changing environments. Her work focuses on economic adaptation and the financial economics of climate change. Dr. Pankratz spent six months as a guest researcher at Four Twenty Seven.