Luis Mª Abadie Research Professor

Main Research Field:
Energy Economics, Carbon Markets, GHG Emissions, Real Options and Financial Economics.

Personal web page http://www.bc3research.org/en/luis_m_abadie.html
Email address lm.abadie@bc3research.org
Wok M-7134-2013
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There is a high degree of uncertainty about the impact that a rising GHG concentration can have on our planet temperature and thereby on life conditions. Continued research and the arrival of new information over time can contribute to reduce this uncertainty. Nevertheless, an early action against climate change is necessary to reduce the risks faced by us and future generations, thus mitigating the possibility of serious and hardly repairable changes. In other words we must invest to assure the future. On the other hand, actions against climate change must go hand-in-hand with improvements in energy efficiency and savings in the natural resources.



September 29, 2017

BC3 Journal Article “Carbon risk and optimal retrofitting in cement plants: An application of stochastic modelling, MonteCarlo simulation and Real Options Analysis”

The cement sector is highly intensive in CO2 emissions and is the second biggest industrial sector in terms of emissions after the electricity generation sector. It emits CO2 from the combustion of fossil fuels, the calcination process and, indirectly, from electricity consumption. The ambitious climate change policy in the EU means that carbon prices and fuel prices are two very important sources of uncertainty that may affect the competitiveness of the sector. This paper focuses on understanding the risk associated with the future price of European Union Emission Trading System allowances.
September 27, 2017

BC3 Journal Article “Investing in adaptation: flood risk and real option application to Bilbao”

Investment decisions in adaptation are usually made under significant uncertainty due to climate change and socio-economic trends. In this study, we propose three ways to incorporate climate and socio-economic uncertainty into the assessment of an adaptation infrastructure designed to cope with flood-risk in the city of Bilbao.
August 13, 2017

BC3 Journal Article “Valuation of Real Options in Crude Oil Production”

Oil producers are going through a hard period. They have a number of real options at their disposal. This paper addresses the valuation of two of them: the option to delay investment and the option to abandon a producing field.
May 4, 2017

BC3 Press Release (2017-05-04)

"Cities in Southeast Asia, Eastern Africa and on US West Coast need to act on sea-level rise most urgently". [Leioa (Spain), 4th May 2017] For people and insurance companies alike, it is the extreme events – with low probability but highly damaging - that are the most devastating. Storm Desmond, for example, flooded northwestern areas of the UK in 2015, and Hurricane Katrina wreaked catastrophe on New Orleans in 2005. The same is true when it comes to future sea level rise. Now a study assesses coastal flood risk from sea level rise for 120 major coastal cities, and shows which cities are most vulnerable to extreme events.

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