Coming from the energy sector, especially in business development, I’ve seen how much financing and investment decisions can decide whether climate goals actually move forward or just stay as plans. That curiosity pushed me to dive deeper into sustainable investing and eventually brought me to the SIRI Practicum at SIPA. Since this is my last semester in the Sustainability Management program at Columbia, I felt it was the perfect time to put all the theory I’ve learned into practice. The practicum feels like a real playground for me to have ideas and learn before stepping into the real world after graduation. What really drew me in is how it goes beyond theory. We get to work on live projects with real clients, which always means new and exciting challenges. For me, the chance to connect climate risk with capital markets felt like the ideal way to bring together my background and the new perspectives I want to keep building in sustainable investing.
This semester, I am working on a project that is both highly quantitative and very relevant with today’s climate realities: examining how climate-driven wildfires affect the cost and availability of insurance. The assignment is not only technical, involving data modeling and stress-testing, but also deeply societal. As insurance grows more costly, restrictive, or even unavailable, communities and businesses must shoulder the escalating cost of climate change. This makes the project feel urgent and meaningful. I don’t have prior background in insurance or wildfire risk, which is why I am so excited to immerse myself into the subject. It is a chance to push outside of my comfort zone, build new skills, and contribute into an area where research can directly inform both investor awareness and public understanding.
In the first four weeks of this practicum, my team has met the client two times. During this early phase, many things shifting after discussion, which really open our eyes and gave us more clarity on where we want to drag this project. This is a very important step, as it set the direction and becoming the foundation for the whole ride of this project. I feel glad working with teammates from diverse backgrounds. It has been fun and interesting, as we learn so much from each other. One important thing I realize through this process is how valuable clear communication in person really are, especially in this virtual era where we mostly rely on virtual meetings. Meeting face to face allows us to see gestures, mimic, even share food during the meeting, which in turn strengthen our collaboration and teamwork.
What excites me the most is the project’s potential to generate impact beyond the classroom. By quantifying the link between extreme climate events, insurance markets, and financial stability, our work can highlight the 'real costs' of climate change to society. There is also an opportunity for publication, which adds an additional layer of motivation, knowing the analysis could reach the policymakers and communities who need this insight. For me, this project is not only about learning a new technical language in risk and insurance, but also about testing how sustainability research can be translated into tangible outcomes for decision-makers. It’s been both challenging and interesting so far, and I can’t wait to see how the project unfolds in the coming months. I’m excited to keep learning along the way, and even more, to see how our work might make an impact once it’s published.