Offered Subjects
- Grenzen der Versicherbarkeit von Klimarisiken (Original Title: Limits of Insurability for Climate Risks)
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - Hitzesterblichkeit und Sterbetafeln (Original Title: Heat Mortality and Actuarial Life Tables)
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - Klimaszenarien im ORSA (Original Title: Climate Scenarios in the ORSA)
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - Das NatCat-Untermodul der Solvency-II-Standardformel (Original Title: The NatCat Submodule of the Solvency II Standard Formula)
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - Schadenreservierung bei nichtstationären Trends (Original Title: Loss Reserving under Non-Stationary Trends)
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - Extremwerttheorie in der NatCat-Tarifierung (Original Title: Extreme Value Theory in Natural Catastrophe Pricing)
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - Ruintheorie unter Katastrophenschocks (Original Title: Ruin Theory under Catastrophe Shocks)
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - Kollektives Risikomodell für Katastrophenschäden (Original Title: Compound Poisson Models for Catastrophe Losses)
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - Überlebensmodelle und Hazardraten: Personenversicherung und Klimakipppunkte (Original Title: Survival Models and Hazard Rates: Life Contingencies and Climate Tipping)
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - Protective Put oder Cat Bond: zwei Formen des Klimarisikotransfers (Original Title: Protective Put or Cat Bond: Two Forms of Climate Risk Transfer)
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - Katastrophenanleihen und langfristige Klimarisiken (Original Title: Cat Bonds and Long-Horizon Climate Risk)
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - Fristeninkongruenz: Laufzeiten von Finanzinstrumenten und Kipppunkt-Zeithorizonte (Original Title: Horizon Mismatch: Instrument Tenors and Tipping Point Timescales)
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - Kipppunkte in der DCF-Bewertung (Original Title: Tipping Points in Discounted Cash Flow Valuation)
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - Mitigation und Adaptation als zwei Optionstypen (Original Title: Mitigation and Adaptation as Two Option Types)
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - Kritische Würdigung der Climate Capital Option Theory (Original Title: A Critical Appraisal of Climate Capital Option Theory)
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - CCVaR: Value at Risk für Klimaschäden (Original Title: CCVaR: Value at Risk Applied to Climate Losses)
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - Der Wert des Wartens: Anpassungsinvestitionen als amerikanische Option (Original Title: The Value of Waiting: Adaptation Investment as an American Option)
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - Klimaanpassung als Protective Put (Original Title: Climate Adaptation as a Protective Put)
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - The Term Structure of EU ETS Futures Abstract
Master Thesis Business Administration - Energy and Finance, Tutor: Yassin El Hatri, M.Sc.Drawing on financial mathematics theory and the latest academic literature, this thesis develops a quantitative model for the term structure of European Union Allowance (EUA) futures prices within the EU Emissions Trading System (EU ETS). The thesis first examines the theoretical determinants of EUA futures price dynamics and the unique characteristics of this carbon market. Building on this foundation, a term structure model is derived to capture the relationship between futures contracts of different maturities and the underlying market factors driving allowance prices. Finally, the model parameters are estimated using recent data. The objective is to enhance the understanding of the market dynamics and provide insights into the predictability of EUA futures prices.
Introductory literature:
The Term Structure of European Carbon Futures and the Predictive Power of Speculators and Hedgers by Lina Franziska Lautner, Tom L. Dudda, Tony Klein :: SSRN - Transparency of Climate Disclosures of Europe's Climate Leaders Abstract
Bachelor Thesis, Master Thesis Business Administration, Tutor: Marvin Klein, M.Sc.https://www.ft.com/content/1d4be2a3-e986-40e1-96a4-2ef732ed143a?syn-25a6b1a6=1
- Let’s Put VUCA into Climate Models: Rethinking Risk in Integrated Assessment Models (Original Title: Let’s Put VUCA into Climate Models: Rethinking Risk in Integrated Assessment Models)
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - The Economics of Climate Tipping Points (Original Title: The Economics of Climate Tipping Points)
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - Catastrophic Climate Risks in Economic Theory (Original Title: Catastrophic Climate Risks in Economic Theory)
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - Climate Tipping Points in Economic Models (Original Title: Climate Tipping Points in Economic Models)
Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - Climate Tipping Risks and Optimal Carbon Pricing (Original Title: Climate Tipping Risks and Optimal Carbon Pricing)
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - Strategic Climate Policy with Climate Tipping Risks (Original Title: Strategic Climate Policy with Climate Tipping Risks)
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - RAG for Corporate Climate Disclosures Abstract
Bachelor Thesis, Master Thesis Business Administration, Tutor: Marvin Klein, M.Sc.Investigation of accuracy of different RAG approaches for measuring corporate climate disclosure.
Literature: arxiv.org/abs/2505.22752.
- Endogenous Innovation and Directed Technical Change in the Carbon Abatement Game
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - Improving Climate Policies: The Role of Carbon Pricing, Green R&D, and Global Leadership Abstract
Bachelor Thesis, Master Thesis Business Administration, Tutor: Kateryna Chekriy, M.Sc.Literature:
- Cooperative and Competitive Strategies in the Carbon Abatement Game
Bachelor Thesis, Master Thesis Business Administration, Tutor: Pascal Hasenmaier, M.Sc. - The Impact of Policy Announcements on the EU ETS Abstract
Master Thesis Business Administration - Energy and Finance, Tutor: Yassin El Hatri, M.Sc.The EU Emissions Trading System (EU ETS) is strongly influenced by policy interventions and regulatory developments. Information relevant to market participants arrives both through regular, scheduled announcements and irregular policy events. Scheduled announcements include the publication of verified emissions, emissions forecasts, annual cap adjustments, auction volumes, and other regulatory reports that directly affect expectations regarding the future supply and demand of emission allowances. In addition, irregular events such as proposals for market reforms, revisions of the ETS Directive, changes to the Market Stability Reserve (MSR), political negotiations, and unexpected regulatory announcements can substantially alter market participants' expectations. Because the value of EU Allowances (EUAs) is largely determined by future regulatory constraints and expected scarcity, policy announcements represent a key source of uncertainty in the carbon market. The thesis reviews and compares the statistical models and findings of the existing literature, and applies an adopted model to recent data.
Introductory literature:
Politics matters: Regulatory events as catalysts for price formation under cap-and-trades
Influences from the European Parliament on EU emissions prices
Emission permits and the announcement of realized emissions: Price impact, trading volume, and volatilities - Trading Activity in the EU ETS: Beyond Compliance and Hedging Abstract
Master Thesis Business Administration - Energy and Finance, Tutor: Yassin El Hatri, M.Sc.This thesis investigates the heterogeneity of commercial trading in the European Union Emissions Trading System (EU ETS). Initially, it reviews the economic rationale of hedging in carbon markets and derives expected trading patterns from theory. Using transaction-level data from the European Union Transaction Log (EUTL), these theoretical predictions are then compared with observed trading behavior to assess whether firms trade primarily for compliance and risk management purposes or engage in more active trading strategies.
Introductory literature:
ESMA50-481369926-34622 Market report: EU carbon markets 2026
https://www.isda.org/a/soigE/Role-of-Derivatives-in-Carbon-Markets.pdf - Net-Zero Investing Abstract
Bachelor Thesis, Master Thesis Business Administration, Tutor: Kateryna Chekriy, M.Sc.Analysis and implementation of net-zero metrics in net-zero investing.
Literature: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4283998