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