Research journals

The Research journals present selected academic work supported by the partners of the Sustainable Finance Center in an accessible format. They highlight advances in research on topics such as responsible investment, risk management, financial inclusion, and digital finance.

FDIR Chair research journals

Since 2007, the Sustainable Finance & Responsible Investment Chair has brought together researchers, companies, investors, and institutions to advance sustainable finance and responsible investment. The Chair develops research and educational initiatives aimed at improving the integration of environmental and social considerations into economic and financial decision-making.
Its research focuses in particular on biodiversity, climate-related issues, and social preferences associated with ESG (Environmental, Social and Governance) criteria.

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March 2025 | How can finance support the environmental transition?

This research journal presents the work carried out during the 2022-2025 period, exploring how finance can contribute to the sustainable development of our economies through the analysis of three interconnected dimensions: individuals, the financial industry, and corporations.

What motivates individuals to invest in responsible companies?
Milo Bianchi examines how life experiences shape individual investment decisions and influence the willingness to support responsible businesses.
How can the financial industry be structured to promote socially responsible investment?
Olivier Gossner investigates the impact of management fees on the insurance sector’s ability to support long term investment. Patricia Crifo analyzes the role of SRI labels in helping investors identify and assess corporate sustainability practices.
What tools are available to responsible businesses?
Sébastien Pouget evaluates the impact of green patents on firms’ financial and environmental performance. Patricia Crifo explores the relationship between compensation policies and corporate social responsibility (CSR). Nicolas Treich, whose interview opens this paper, discusses the specific challenges involved in designing effective biodiversity protection strategies.
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Risk markets and value creation Chair research journals

Developed at TSE with the support of the SCOR Foundation for Science, the Risk Markets and Value Creation Chair advances research in the economics of risk, insurance, and finance. It promotes collaboration between researchers and industry experts to deepen understanding of how risk influences economic decision-making. Its research focuses notably on longevity risk, risk-taking behavior, extreme risk management, and the regulation of financial markets.

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November 2025 | Rethinking risk protection in a changing world

This issue of the Risk Markets and Value Creation Chair research journal highlights recent research on the economics of risk, insurance, and finance, as well as the transformation of solidarity mechanisms in response to demographic, technological, and behavioural changes.

How is data transforming social protection and insurance systems?
Charlotte Cavaillé examines the impact of big data and predictive tools on risk-pooling mechanisms, as well as their effects on individual preferences regarding solidarity and insurance.
Why do insurance mechanisms sometimes fail to protect individuals?
Frédéric Cherbonnier studies the role of behavioural biases and short-termism in situations of over-indebtedness and assesses the effectiveness of public policies such as interest rate caps, personal bankruptcy schemes, and savings incentives.
How can we better understand and manage extreme risks?
Research recognised through the SCOR-EGRIE Awards explores the pricing of catastrophe bonds and self-protection mechanisms against rare but high-impact risks, helping to strengthen the resilience of markets and insurance systems.

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Research journals of the FIT IN Initiative

Launched in 2020 by TSE with the support of the Bill & Melinda Gates Foundation’s Financial Services for the Poor program, the FIT IN Initiative (Financial Inclusion Through INteroperability) concluded in 2024 after four years of research dedicated to interoperable digital financial service systems in low- and middle-income countries. Its work contributed to a deeper understanding of competition, regulation, and financial inclusion issues, helping inform public policies aimed at developing digital payment systems that are more accessible, efficient, and affordable.

October 2024

Research Insights

The overview document presents the main findings of the FIT IN Initiative. It brings together the initiative’s most significant research results along with the resulting policy recommendations. The report provides a comprehensive overview of FIT IN’s contributions to the development of digital payments and financial infrastructure in emerging economies.