ASSESSMENT OF CLIMATE CHANGE IMPACT ON COMPANIES

This course investigates modern techniques of enterprise risk management to tackle the assessment of climate change impacts on industrial companies, focusing on identification, data collection, quantification and monitoring of climate change risks. Considerable attention will also be devoted to analyzing the european regulation on this topic for industrial companies.

Knowledge of climate change risk management principles, climate change risk quantification, climate change risk reporting, EU sustainability regulatory framework for industrial companies.

Mathematics, Statistics, Quantitative methods for data analysis.

1. Climate Change Risk Assessment Process: general theory
- The steps of the Enterprise Risk Management (ERM) Process: risk identification, risk appetite statement, risk quantification, risk monitoring
- Forward Looking Approach
- Double Materiality Principle: financial and impact materiality
- Sources of information: scientific data and expert judgement
- Limits of traditional practices
2. Physical Risk Assessment
- Causes identification: acute and chronic physical hazards
- Effects evaluation: company key performance indicators over the short, medium and long term
- Case studies of Physical Risk Assessment for companies
3. Transition Risk Assessment
- Causes identification: policy, regulation, technology, market and reputation factors
- Effects evaluation: company key performance indicators over the short, medium and long term
- Case studies of Transition Risk Assessment for companies
4. European Regulation part a): Corporate Sustainability Reporting Directive (CSRD - UE Directive 2022/2464)
- Double materiality as the basis for sustainability disclosures
- Reporting areas
- General requirements
- Topical standards
5. European Regulation part b): EU Taxonomy (EU Regulation 2020/852)
- Scope and Definitions
- Criteria for environmentally sustainable economic activities
- Technical screening criteria
- Transparency of undertakings in non-financial statements
6. European Regulation part c): European Banking Authority Guidelines on the management of ESG risks (2025)
- Financial materiality assessment
- Companies engagement procedure

European Commission, Joint Research Centre, Alessi, L. and Giacomelli, A., Quantitative assessment of the financial materiality of climate physical risks: a case study, European Commission, Ispra, 2024, JRC139793
- Giacomelli, A. (2021). EU Sustainability Taxonomy for non-financial undertakings: summary reporting criteria and extension to SMEs. Working Papers Series (No. 29/WP/2021). Ca' Foscari University of Venice, Deptartment of Economics. ISSN 1827-3580.

Written examination consisting in three questions about three different topics analysed in the course

written

The instructor is responsible for ensuring the authenticity and originality of all examinations and coursework. In cases of suspected academic misconduct, an additional on-site assessment may be required during the exams, which may differ from the standard format.

28-30L: Mastery of the topics covered in lectures and provided materials; ability to prioritize information effectively; use of appropriate technical terminology. .

26-27: Good knowledge of the topics covered in lectures; reasonable ability to structure and present information; familiarity with technical terminology.

22-25: Knowledge of the topics covered in lectures is not always in-depth; occasional misuse of technical terminology; answers contain inaccuracies.

18-21: Partial knowledge of the topics covered in lectures, with some gaps; answers are sometimes unclear, with limited use of technical terminology.

In class lessons using slides and scientific papers.

This subject deals with topics related to the macro-area "Climate change and energy" and contributes to the achievement of one or more goals of U. N. Agenda for Sustainable Development