Fannie Mae and Freddie Mac don’t factor climate change into rates. More frequent floods, hurricanes and wildfires raise systemic default risk.
Mentioned Faculty
Stijn Van Nieuwerburgh
Stijn Van Nieuwerburgh is the Earle W. Kazis and Benjamin Schore Professor of Real Estate and Professor of Finance at Columbia University’s Graduate School of Business, which he joined in July 2018 after 15 years at New York University’s Stern School of Business. He earned his PhD in Economics (2003), MSc in Financial Mathematics (2001), and MA in Economics (2001) from Stanford University, and a B.A. in Economics from the University of Ghent, Belgium (1998).
Parinitha Sastry
Professor Parinitha (Pari) Sastry is an assistant professor of finance at Columbia Business School. Her research focuses on climate change, financial intermediation, and real-estate markets. She received her B.A. from Columbia University and her finance Ph.D. from the Massachusetts Institute of Technology. She has worked previously at the Department of Treasury, Task Force on Climate-Related Financial Disclosures, Brookings Institution, and New York Fed.