The Economic and Financial Impact of Climate Change | CFMRI Webinar Series

In 2025, Resources for the Future (RFF) and Harvard University’s Salata Institute for Climate and Sustainability launched the Climate-Related Financial and Macroeconomic Risk Initiative (CFMRI) to develop forward-looking analysis of how physical climate risks and energy transition dynamics impact financial markets.

This fall, CFMRI will host a three-part webinar series on “The Economic and Financial Impact of Climate Change.” By bringing together a combination of leading academic researchers and private market participants, this series will examine ways that the physical risks and transition risks of climate change can impact the US economy and financial markets at the local, national, and international level and need for informed policy. 

• Economic and Financial Impacts of Climate Change
  • Topics: Overview of risk drivers and transmission mechanisms from physical risks and transition risks to economic and financial outcomes; introduction to CFMRI.
  • Speakers: Bob Litterman (Kepos Capital); Billy Pizer (RFF); Jim Stock (Harvard University); Moderator: Kevin Stiroh (RFF)
• Climate Change and the Real Economy
  • Topics: Economic impacts from a local, national, and international perspective; federal and state and local policy needs; nonfinancial/noneconomic impacts
• Climate Change and Financial Markets
  • Topics: Impact on small banks, large banks, insurance providers, investors, and asset managers; cross-sectoral spillovers; financial policy needs