Norges Bank

Norges Bank Climate Conference

On 21 October 2025, Norges Bank and Norges Bank Investment Management (NBIM) will host a high-level conference on climate change. This full-day event aims to deepen our understanding of the impact of climate change and the energy transition on the macroeconomy and financial markets. 

The conference will be live-streamed from 9 am Tuesday 21 October 2025.

Programme

09:00: Welcome remarks

Ida Wolden Bache, Governor and Chair (Norges Bank)
Nicolai Tangen, 
CEO (Norges Bank Investment Management)

09:15: Climate change and macroeconomic impacts  

Chair: Deputy Governor Øystein Børsum (Norges Bank)

Bjørn Samset (CICERO): Climate change is changing: Setting the scene
Solomon Hsiang (Stanford University): Macroeconomic impacts of climate change
Emilia Garcia-Appendini
 (Norges Bank and University of St Gallen): Impacts of extreme weather events in Norway

10:20: Break

10:40: Energy transition and macroeconomic impacts

Chair: Caroline Espegren (BI Norwegian Business School and Norges Bank)

Diego Känzig (Northwestern University): Macroeconomic impacts of climate policies
Bård Harstad (Stanford University): Climate coordination and fossil-fuel traps
Hilde Bjørnland 
(BI Norwegian Business School): Challenges of the energy transition for the Norwegian economy

12:00: Lunch break

13:00: Keynote addresses and conversation

Chair: Deputy Governor Øystein Børsum (Norges Bank)

Christine Lagarde, President (European Central Bank): Keynote address I
Al Gore, former US Vice president and Chairman (Generation Investment Management): Keynote address II
Conversation with President Christine Lagarde and former US Vice President Al Gore moderated by Director Kristin Halvorsen (CICERO)

14:00 Break

14:30 From climate risk to investment opportunity

Chair: Caroline Espegren (BI Norwegian Business School and Norges Bank)

Tim Lenton (University of Exeter): Risks and opportunities of borth negative and positive tipping points
Laura Starks 
(The University of Texas at Austin): The role of climate information in investment decisions
Harrison Hong 
(Columbia University): Risk and return of climate investments

15:50 Concluding remarks

Chief Governance and Compliance Officer Carine Smith Ihenacho (Norges Bank Investment Management)  

16:00 Official programme ends

Edited 7 October 2025 12:00

More information

Edited 7 October 2025 12:00