Conference
10 – 11 August 2026
Santiago, Chile
We at the Centre for Economic Transition Expertise (CETEx) alongside our partners, Central Bank of Chile, Sustainable Macro and SUREAL are delighted to be co-hosting the annual academic conference on the macroeconomic, financial, prudential and monetary dimensions of nature degradation.
The conference will be held on August 10-11, 2026 at the Auditorium of the Central Bank of Chile, Morandé 115, floor 2, Santiago. All sessions will be conducted in English, with the keynote address delivered by Justin Johnson (University of Minnesota).
Overview
Agenda
Organising committee
Partners
Call for papers
Overview
How does climate change and nature degradation reshape macroeconomic stability, financial resilience, and policy design?
Synergies between climate change and nature degradation are increasingly reshaping macroeconomic trajectories, financial sector resilience, and the conduct of monetary and prudential policy worldwide. These dynamics heighten exposure to physical risks, complicate the assessment of nature-related risks across interconnected ecosystems, and necessitate significant structural adjustment to meet environmental targets and safeguard economic stability. Evolving regulatory frameworks, including green monetary policies, protected area designations, and international sustainability regulations, are reshaping production incentives, investment flows, and capital allocation. Understanding how to design effective policy responses, how asset markets price nature-related risks, and the costs of potential mispricing is becoming central to guiding the transition.
Together with institutional affiliates and keynote speakers, the conference will present research exploring the macro-financial implications of climate- and nature-related risks, green structural policies, capital reallocation, and the evolving role of monetary and prudential frameworks.
Agenda
DAY 1: Monday, 10 August 2026
9:00 to 9:30 – Arrival and registration
9:30 to 10:00 – Opening remarks – Elias Albagli, Director of the Central Bank of Chile’s Monetary Policy Division, Co-chair of the NGFS Nature Task Force
10:00 to 11:30 – Paper presentations – Session 1 Consumer spending, price stability and monetary policy (Session Chair: Chiara Colesanti Senni)
- Environmental breakdown and inflation management: a socio-ecological understanding – Josh Ryan-Collins (University College London), Damon Aitken (University College London), Katie Kedward (University College London), David Barmes (Centre for Economic Transition Expertise)
- Discussant: Diego Ferreira (Federal University of São Paulo)
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- Discussant: Diego Ferreira (Federal University of São Paulo)
- Imported Climate, Domestic Inflation: Trade-Weighted Transmission of Weather Shocks to Food Prices – Diego Ferreira (Federal University of São Paulo), Andreza Palma (Federal University of São Carlos), Ana Kreter (Rhine-Waal University of Applied Sciences), Jefferson Staduto (Western Paraná State University)
- Discussant: Maria Catalina Sandoval Alvarado (Central Bank of Costa Rica)
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- Discussant: Maria Catalina Sandoval Alvarado (Central Bank of Costa Rica)
- Consumer spending during extreme hydrometeorological events in Costa Rica – Maria Catalina Sandoval Alvarado (Central Bank of Costa Rica), Mónica Rodríguez Zúňiga (Central Bank of Costa Rica)
- Discussant: Damon Aitken (University College London)
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- Discussant: Damon Aitken (University College London)
11:30 to 12:00 – Tea and coffee break
12:00 to 13:00 – Paper presentations – Session 2 Critical Minerals (Session Chair: Nicole Toftum)
- Nature-related copper supply shocks: global production networks, recycling, and macroeconomic vulnerabilities – Maciej Mróz (Warsaw School of Economics)
- Discussant: Pau Morandi (Centre for Economic Transition Expertise)
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- Discussant: Pau Morandi (Centre for Economic Transition Expertise)
- Governing the Lithium Triangle: fiscal regimes, industrial policy and regional coordination in Chile, Bolivia and Argentina – Herlina Utamawati (Centre for Economic Transition Expertise), Pau Morandi (Centre for Economic Transition Expertise)
- Discussant: Maciej Mróz (Warsaw School of Economics)
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- Discussant: Maciej Mróz (Warsaw School of Economics)
13:00 to 14:00 – Lunch
14:00 to 15:30 – Paper presentations – Session 3 Natural disasters, firms and financial intermediation (Session Chair: Agnieszka Smolenska)
- Financial vulnerability from climate shocks: Peruvian evidence – Jorge Pozo (Banco Central de Reserva del Perú), Youel Rojas Zea (Banco Central de Reserva del Perú)
- Discussant: Luis E. Gonzales C. (Central Bank of Chile)
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- Discussant: Luis E. Gonzales C. (Central Bank of Chile)
- Analyzing the direct physical impacts of wildfires in Chile: a Firm-level study using administrative data with focus on Ecosystem Services dependencies – Luis E. Gonzales C. (Central Bank of Chile)
- Discussant: Matias Solorza (University of California, Davis)
- Why are recoveries after natural disasters so slow? Evidence from Chile – Lissette Briones (Central Bank of Chile), Matias Solorza (University of California, Davis)
- Discussant: Youel Rojas Zea (Banco Central de Reserva del Perú)
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- Discussant: Youel Rojas Zea (Banco Central de Reserva del Perú)
15:30 to 16:00 – Tea and coffee break
16:00 to 17:30 – Policy Panel “Nature and the Macroeconomy: A Dialogue Between Research and Policy”
- Kevin Cowan (Board Member, Central Bank of Chile)
- María Teresa Ruiz-Tagle (Executive Director, CLG-Chile – FEN U. Chile)
- Cristóbal de la Maza (Former Head of Chile’s Environmental Enforcement Agency – Assistant Professor, PUC School of Engineering)
- Moderator: Robert Patalano (Executive Director, Centre for Economic Transition Expertise)
DAY 2: Tuesday, 11 August 2026
9:00 to 9:30 – Arrival
9:30 to 11:00 – Paper presentations – Session 4 Deforestation, ecosystems, biodiversity (Session Chair: Wallis Greenslade)
- Productivity, deforestation, and the extensive trap: a structural macro model for Bolivia – Rodrigo Gonzales Zuazo (Conservation Strategy Fund)
- Discussant: Siwar Ortiz Guzman (Vienna University of Economics and Business)
- Extracting value, exporting risk: foreign capital, soy-driven deforestation, and profit repatriation in Brazil – Siwar Ortiz Guzman (Vienna University of Economics and Business)
- Discussant: Marihot Nasution (Secretariat General of the House of Representatives of Indonesia)
- Green zoning as structural policy: ecological protection, disaster resilience, and local growth in Indonesia – Marihot Nasution (Secretariat General of the House of Representatives of Indonesia)
- Discussant: Rodrigo Gonzales Zuazo (Conservation Strategy Fund)
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- Discussant: Rodrigo Gonzales Zuazo (Conservation Strategy Fund)
11:00 to 11:30 – Tea and coffee break
11:30 to 13:00 – Keynote: Using Earth-Economy Models to Assess Macroeconomic Risk from Nature Degradation – Professor Justin Johnson (University of Minnesota)
Moderated by Elena Almeida (Head of Nature, Centre for Economic Transition Expertise)
13:00 to 14:00 – Lunch and closing
Organising committee
Luis E. Gonzales, Elena Almeida, Chiara Colesanti Senni, Nicole Toftum, and Maria Waaifoort
Partners
Call for papers
The call for papers is now closed. The conference programme will consist of papers selected through the submission process outlined here. The call invited submissions of extended abstracts and draft papers presenting rigorous theoretical and empirical research in economics, finance, political economy, and related fields.
Photo by: Jeremy Poland/istock