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# RCSII

Research Centre Sustainable Investments and Insurance

## Sitemaps

- [XML Sitemap](https://rcsii.nl/sitemap.xml): Contains all public & indexable URLs for this website.

## Posts

- [Recap: The Second Amsterdam Sustainable Finance Conference](https://rcsii.nl/2026/06/12/recap-the-second-amsterdam-sustainable-finance-conference/) - Video impression of the conference The RCSII was pleased to host the Second Amsterdam Sustainable Finance Conference, which took place on May 8, 2026 at the Royal Industrieele Groote Club in Amsterdam. This edition focuses on Investor Democracy.
- [The Long-Run Effects of Tropical Cyclones on the U.S. Housing Market ](https://rcsii.nl/2026/03/18/the-long-run-effects-of-tropical-cyclones-on-the-u-s-housing-market/) - Authors: Davide Castellani Abstract: This paper examines how tropical cyclones affect housing markets in the United States over time. While prices may rise briefly after a storm, they tend to decline significantly in the years that follow. We also find that people often settle in coastal areas with little past storm experience, but these locations
- [Recap: The First Amsterdam Sustainable Finance Conference](https://rcsii.nl/2025/06/06/recap-the-first-amsterdam-sustainable-finance-conference/) - On May 9th, RCSII hosted the First Amsterdam Sustainable Finance Conference at the Koninklijke Industrieele Groote Club. More than 100 researchers, professionals, and policymakers came together to share and discuss new research on the challenges and opportunities in sustainable finance, with a focus on how capital markets can contribute to a more equitable and resilient
- [The euro area carbon bond premium](https://rcsii.nl/2025/10/06/the-euro-area-carbon-bond-premium/) - Title: The euro area carbon bond premium Authors: Marleen de Jonge (RCSII), Dirk Broeders, David Rijsbergen Journal: The European Journal of Finance This paper investigates whether companies with higher carbon emissions face higher borrowing costs in the euro area corporate bond market. Using data on firms’ carbon emissions - including direct emissions (Scope 1), emissions
- [Sinking Land, Sinking Prices?](https://rcsii.nl/2025/06/26/sinking-land-sinking-prices-land-subsidence-flood-risk-and-property-prices/) - Sinking Land, Sinking Prices? Land Subsidence, Flood Risk, and Property Prices Authors: Lukas Hofmann, Martijn I. Dröes, Marc K. Francke Abstract: This paper examines the effect of land subsidence – the gradual sinking of the Earth’s surface – on property values. Subsidence can negatively affect real estate by damaging building foundations and increasing vulnerability to
- [Amsterdam Sustainable Finance Conference, May 9, 2025](https://rcsii.nl/2024/12/04/amsterdam-sustainable-finance-conference-may-9-2025/) - Royal Industrieele Groote Club
- [Watch our video](https://rcsii.nl/2025/05/05/watch-our-video/) - Curious how to make impact with sustainable investments? Watch our new video! At RCSII Sustainable Investments, we investigate how to maximize social returns based on scientific insights - without losing sight of financial returns. What exactly are we investigating?How development banks contribute to social returns: where does each euro invested have the highest yield? How
- [Mental Models in Financial Markets: How Do Experts Reason About the Pricing of Climate Risk?](https://rcsii.nl/2025/03/31/mental-models-in-financial-markets-how-do-experts-reason-about-the-pricing-of-climate-risk/) - Authors: Rob Bauer, Katrin Gödker, Paul Smeets and Florian Zimmermann Abstract: We investigate financial experts’ beliefs about climate risk pricing and analyze how those beliefs influence stock return expectations. In a comprehensive survey, we elicit experts’ beliefs using both structured and open-ended questions. We establish that most experts share the view that climate risks are
- [Why Do Investors Pay Higher Fees for Sustainable Investments? An Experiment in Five European Countries](https://rcsii.nl/2025/03/31/why-do-investors-pay-higher-fees-for-sustainable-investments-an-experiment-in-five-european-countries/) - Authors: Daniel Engler, Gunnar Gutsche and Paul Smeets Abstract: We study why investors are willing to pay higher fees for sustainable investments using large-scale online experiments with individual investors across five European countries. We focus on two potential explanations - investors’ social preferences and limited financial literacy. We find that, across all countries, social preferences
- [Do Development Financial Institutions Create Impact through Venture Capital Investments?](https://rcsii.nl/2025/03/31/do-development-financial-institutions-create-impact-through-venture-capital-investments/) - Authors: Aleksandar Andonov, Andy Li and Paul Smeets Abstract: Development Finance Institutions (DFIs) manage assets totaling $23 trillion, yet little research has been conducted on their investment activities and impact. We document that DFIs have increasingly invested in venture capital (VC) over the past three decades, participating as limited partners in one out of every
- [Impact or Responsibility?Giving Behavior in a Televised Natural Experiment](https://rcsii.nl/2024/12/06/impact-or-responsibilitygiving-behavior-in-a-televised-natural-experiment/) - Authors: Inka Eberhardt Hiabu, Paul Smeets, Martijn J. van den Assem and Dennie van Dolder Abstract: We examine the influence of impact and responsibility considerations on giving behavior. Our data are from a television show where an audience of one hundred people divides ten thousand euros among three financially distressed candidates, and from independent raters
- [RCSII & a.s.r. Workshop](https://rcsii.nl/2024/12/04/rcsii-a-s-r-workshop/) - We had another fruitful RCSII & a.s.r. workshop on November 28, 2024. Patrick Klijnsmit and Raphie Hayat from a.s.r. gave an overview of the aims and scope as well as the research focus areas of the RCSII. Paul Smeets and Lukas Hofmann from UvA-EB delivered talks on the effects of regulating greenwashing with empirical evidence
- [March 18: SEEMS/RCSII Workshop on Greenwashing Detection and Quantifying the Impact of ESG Risk on Portfolios](https://rcsii.nl/2024/02/04/rcsii-workshop/) - The first RCSII workshop will take place on Monday March 18, 2024, in the form of a session within the SEEMS seminar series. Time: 13:00-14:00 Location: Room REC E0.03 No registration required. Lunch will be provided. Cofee / tea available afterwards (14:00-15:00) Roeterseiland campus Building E Roetersstraat 11 10128 WB Amsterdam
- [Joint press release a.s.r. and UvA Economics and Business](https://rcsii.nl/2024/02/04/joint-press-release-a-s-r-and-uva-eb/) - On July 6, 2023, a.s.r. and UvA Economics and Business announced the start of the RCSII via a joint press release: New Research Center investigates sustainability issues

## Pages

- [Our people](https://rcsii.nl/our-people/) - Our people
- [Privacy Statement](https://rcsii.nl/privacy-statement/) - Privacy Statement Privacy statement University of Amsterdam (UvA) – Research Centre for Sustainable Investments and Insurance (RCSII) Date: April 5, 2024 Safeguarding privacy is a priority for the University of Amsterdam (UvA), which is why the UvA handles your personal data with the utmost care. In this Privacy Statement we describe how personal data is processed on the Research Centre for
- [Contact](https://rcsii.nl/contact/) - Contact I agree to the privacy statement Contact Information E: info@rcsii.nl Address Secretariat: room E5.28Roeterstraat 111018 WBAmsterdam
- [About RCSII](https://rcsii.nl/about-rcsii/) - About RCSII The RCSII is an independent research institute that aims to answer questions related to sustainable investments and insurance.The research output of the Centre will be made available in the public domain free of charge. Research papers and policy papers generated by members of the Centre will be published at this website, which will
- [Quantifying the impact of ESG risk on insurance and financial portfolios](https://rcsii.nl/quantifying-the-impact-of-esg-risk-on-insurance-and-financial-portfolios/) - Quantifying the impact of ESG risk on insurance and financial portfolios Upcoming legislation highlights the need to quantify the effect of non-financial risk on insurance and financial portfolios. The scope is not restricted to climate risk but extends to the broader category of ESG risk, crucially including biodiversity risk. These developments are making it crucially
- [Discussion Papers](https://rcsii.nl/discussion-papers/) - Discussion Papers
- [Journal Articles](https://rcsii.nl/journal-articles/) - Journal Articles
- [News & Events](https://rcsii.nl/news-events/) - News & Events
- [Our Initiators](https://rcsii.nl/our-initiators/) - Our Initiators The RCSII is a collaborative initiative of a.s.r. and UvA Economics and Business. The centre aims to answer questions related to sustainable investment and insurance. Among other things, the research focuses on quantifying climate risks for investors and insurers and on possibilities for detecting ‘green washing’. RCSII thereby aims to contribute to finding
- [About our Research](https://rcsii.nl/about-our-research/) - About our Research Researchers from UvA Economics and Business are conducting fundamental research on sustainable investment and insurance in order to provide solutions for challenges faced by insurers, other financial institutions, regulators, and society. Importance of quantifying ESG risk Society is currently facing major challenges, including the loss of biodiversity, ecosystem collapses and climate change.
- [Quantifying the impact of impact investing with AI](https://rcsii.nl/quantifying-the-impact-of-impact-investing-with-ai/) - Quantifying the impact of impact investing with AI Quantifying the impact resulting from the rapid growth in responsible investing and impact investing on SDGs is not straightforward. For instance, investing in green energy (SDG 7) might result in higher energy prices, which could subsequently result in prolonged poverty (SDG 1). Currently, there is only limited
- [Clients' response to ESG impact measurements](https://rcsii.nl/clients-response-to-esg-impact-measurements/) - Clients' response to ESG impact measurements An increasing number of clients of financial institutions invest in a responsible manner. Yet, at present, little is understood on how clients of these financial institutions perceive different impact measures and what type of impact they desire to make. This is important when deciding which impact to measure and
- [Greenwashing detection using multimodal deep learning](https://rcsii.nl/greenwashing-detection-using-multimodal-deep-learning/) - Greenwashing detection using multimodal deep learning Due to increasing ESG corporate reporting and the lack of alignment on reported metrics, traditional ESG rating systems are nowadays unable to process and distill all the information reported by companies leading to an increase in the use of, often, low-quality metrics to influence investors’ perceptions, i.e. greenwashing. This
- [Measuring companies’ alignment with climate and biodiversity plans](https://rcsii.nl/measuring-companies-alignment-with-climate-and-biodiversity-plans/) - Measuring companies’ alignment with climate and biodiversity plans This project aims to use natural language processing and transformers to identify the alignment of public companies with SDGs and climate and biodiversity action plans, such as those formulated by the 2015 Paris Agreement and the Taskforce on Nature-related Financial Disclosures (TNFD)’s Nature-Related Risk and Opportunity Management
- [Quantifying ESG risk: Real estate and mortgages](https://rcsii.nl/quantifying-esg-risk-real-estate-and-mortgages/) - Quantifying ESG risk: Real estate and mortgages Insurance companies, financial institutions and other stakeholders are facing a challenge how to quantify ESG risk in relation to real estate and (residential) mortgages from both an investment and an insurance perspective. This research project aims to better understand the ESG performance of real estate and mortgages by

## Team

- [Lukas Hofmann](https://rcsii.nl/team/lukas-hofmann/)
- [Davide Castellani](https://rcsii.nl/team/davide-castellani/)
- [Lara Spaans](https://rcsii.nl/team/lara-spaans/)
- [Marleen de Jonge](https://rcsii.nl/team/marleen-de-jonge/)
- [Andy Li](https://rcsii.nl/team/andy-li/)
- [Ramon de Punder](https://rcsii.nl/team/ramon-de-punder/)
- [Prof. dr. C.G.H. (Cees) Diks](https://rcsii.nl/team/prof-dr-c-g-h-cees-diks/)
- [Paul Smeets](https://rcsii.nl/team/paul-smeets/)
- [Ujjwal Sharma](https://rcsii.nl/team/ujjwal-sharma/)

## Categories

- [Publications](https://rcsii.nl/category/publications/)
- [News & Events](https://rcsii.nl/category/news-events/)
- [Discussion Paper](https://rcsii.nl/category/discussion-paper/) - Category for discussion papers
- [Journal Articles](https://rcsii.nl/category/journal-articles/) - Journal articles

## Designations

- [Post-Doctoral Research Fellow](https://rcsii.nl/team_designation/post-doctoral-research-fellow/)
- [Scientific director](https://rcsii.nl/team_designation/scientific-director/)
- [General director](https://rcsii.nl/team_designation/general-director/)
- [PhD researcher](https://rcsii.nl/team_designation/phd-researcher/)