For my SIRI practicum project, I am working in the area of sustainable finance and climate risk, with a focus on how extreme weather events impact insurance costs and how those costs affect investment portfolios. The project uses the Los Angeles wildfires of 2025 as a case study to explore the connection between climate shocks, insurance markets, and broader portfolio valuation. At this stage, our team is still in the background research phase and in the process of developing a methodology. The work is both challenging and inspiring because it forces me to think about finance in new ways. My academic and professional experience has been in infrastructure and project finance, where climate considerations are often limited to project-level risks. This project shifts the perspective to a system-level approach, where climate change is seen not as a distant environmental issue but as a financial force that can directly influence portfolio performance. I am eager to deepen my knowledge of how these mechanisms work and how financial models can incorporate them more effectively.
A big part of what makes this experience enriching is the collaborative environment. Our team is diverse, representing three Columbia schools, SIPA, the Climate School, and the School of Professional Studies, which allows us to combine policy, climate science, and finance perspectives. Each member brings a unique angle, and this interdisciplinary setting has helped us build a stronger foundation for the project. I also feel very supported by our client, who meets with us once every week. These sessions provide us with valuable feedback, clarity on our next steps, and encouragement to keep refining our approach. Having that regular guidance makes the project feel purposeful and ensures that we stay aligned with the objectives, while also leaving us the space to be creative in how we design the methodology. The balance of independence and mentorship has been motivating and has given me a sense of responsibility to contribute meaningfully.
Looking ahead, I expect this project will be a major learning opportunity. Even in these early stages, I can already see how it will push me to expand my perspective on the relationship between climate change and finance. I look forward to gaining new knowledge about the insurance and reinsurance markets, understanding how climate-driven risks are transmitted through them, and learning how to capture those impacts in financial terms. I also hope to strengthen my ability to work in an interdisciplinary team and to produce research that is rigorous yet accessible. Ultimately, I see this project as more than an academic assignment. It is a chance to contribute to an emerging area of sustainable finance that could influence how investors and policymakers think about climate risk. That sense of real-world relevance makes me both excited and motivated for the weeks ahead.