09.10.2025Transition Finance: Risks or Opportunities?

Initiative in Sustainable Finance 'Practitioners Meet Academics' Conference: 9 October 2025 at the University of Zurich

Transition finance plays a crucial role in supporting high-emitting sectors as they shift toward sustainable practices without simply cutting them off from capital. This creates a unique mix of financial, environmental, and reputational risks, alongside major investment and innovation opportunities.

Bringing together banks, corporates, and researchers allows for critical discussions on setting credible transition pathways, aligning regulatory frameworks, and unlocking capital flows.

Keynote: Setting the Stage: Challenges in Transition Finance

In his keynote, Prof. Egli explained and emphasized that transition finance is pivotal for tackling climate change, supporting the move from fossil fuels to clean energy, and driving innovation in sectors that are hard to decarbonize.

"Credibility depends on the transition technology—on transparency, use of proceeds, and traceability. Forward-looking metrics can make transition finance viable.“
-Prof. Florian Egli, Technical University of Munich (TUM)

Conference Program

Time: Thursday, 9 October 2025, 12:30 - 17:30 PM
Location: University of Zurich, Room RAA-G-01 (Kleine Aula), Rämistrasse 59, 8001 Zurich, Switzerland Map
Registration: closed

12.30	Registration
13.00	Start of Event and Welcome Prof. Zacharias Sautner, University of Zurich and Swiss Finance Institute
13.10	Setting the Stage: Challenges in Transition Finance Prof. Florian Egli, TUM Technical University of Munich Presentation (PDF, 1 MB)
13.45	Recent Insights from Academia I Climate Transition Beliefs Prof. Stefano Ramelli, University of St. Gallen and Swiss Finance Institute Presentation (PDF, 2 MB) Scientific Paper Insurers’ Carbon Underwriting Policies Prof. Zacharias Sautner, University of Zurich and Swiss Finance Institute Presentation (PDF, 337 KB) Scientific Paper
15.00	Coffee Break (Lichthof)
15.30	Moderated Panel Discussion with Industry Representatives Arsène Demenga, Head of Group Treasury, Axpo Group Leila Sassi, Head of ESG Engagement, HOLCIM Mirjam Frei, Head of Corporate & Institutional Banking Sustainability, UBS Romina Schwarz, Head of Sustainability and Public Service Mandate, Zürcher Kantonalbank Moderator: Prof. Zacharias Sautner, University of Zurich and Swiss Finance Institute
16.30	Recent Insights from Academia II Bond versus banks financing in the climate transition: The role of stranded asset risk Prof. Steven Ongena, University of Zurich and Swiss Finance Institute Presentation (PDF, 2 MB) Scientific Paper Using AI to assess corporate climate transition disclosures Tobias Schimanski, University of Zurich and University of Oxford Presentation (PDF, 1 MB) Scientific Paper
17.20	Concluding Remarks
17.30	Apéro in Lichthof

Impressions

Setting the Stage: Challenges in Transition Finance: Prof. Florian Egli, TUM Technical University of Munich
Panel Discussion with Industry Representatives: Arsène Demenga, Head of Group Treasury, Axpo Group Leila Sassi, Head of ESG Engagement, HOLCIM; Mirjam Frei, Head of Corporate & Institutional Banking Sustainability, UBS and Romina Schwarz, Head of Sustainability and Public Service Mandate, Zürcher Kantonalbank; Moderator: Prof. Zacharias Sautner
Recent Insights from Academia: Climate Transition Beliefs by Prof. Stefano Ramelli, University of St. Gallen and Swiss Finance Institute
Recent Insights from Academia: Bond versus banks financing in the climate transition: The role of stranded asset risk by Prof. Steven Ongena, University of Zurich and Swiss Finance Institute
Recent Insights from Academia: Insurers’ Carbon Underwriting Policies by Prof. Zacharias Sautner, University of Zurich and Swiss Finance Institute
Recent Insights from Academia: Using AI to assess corporate climate transition disclosures by Tobias Schimanski, University of Zurich, ETH and University of Oxford