Prof. Stefano Giglio Wins Berkeley Haas Sustainable Business Research Prize

Stefano Giglio, professor of finance, and his co-authors are the winners of the inaugural Berkeley Haas Sustainable Business Research Prize, the business school announced this week.

Giglio, together with Theresa Kuchler, Johannes Stroebel, and Xuran Zeng of New York University’s Stern School of Business, were honored for their study “Biodiversity Risk,” which provides “tools for investors, academics, and businesses to measure economic risks from the loss of the planet’s biodiversity.”

The new prize, administered by the Berkeley Haas Center for Responsible Business, “recognizes research with the greatest potential to spur immediate change in the face of environmental crises.” 

Giglio commented, “While research in the field of climate finance has been expanding dramatically over the last few years, a lot more work needs to occur to ensure that the ideas developed in academic research find practical applications in the business and policymaking world. This is even more important for topics like biodiversity risks and its financial implications, where much less work has been done so far.”

Giglio’s research focuses on hedging various kinds of risk, including crash risk, uncertainty risk, and climate risk. He and his co-authors also won Northwestern University’s Moskowitz Prize for research on sustainable finance for “Biodiversity Risk.” 

Read the announcement from Berkeley Haas.

Read about Stefano Giglio’s research in Yale Insights.