
Dr. Debjani Bhattacharyya, a 2014 doctoral program alum, was recently awarded a competitive, multi-year grant from the Swiss National Science Foundation (SNSF) for the project, “Climate Risk Management: A Historical Perspective.” The project investigates the role of financial institutions in the making of climate science, including by engaging financial institutions’ archives from the 18th century onward, and addresses the fundamental question, “Why have we overwhelmingly turned to the market to tackle the climate crisis?” The full abstract of the project follows:
This project explores why market-based tools – such as carbon trading, weather derivatives, parametric insurance, and catastrophe bonds – have become central to managing climate risk. Examining insurance archives from the eighteenth century onward, it analyzes how financial institutions shaped meteorological knowledge, risk measurement tools, underwriting policies and enforcement mechanisms. The research aims to explain how the business of risk management influenced evolving conceptions of climate and why market mechanisms, rather than regulation, dominate current climate-risk governance.
Bhattacharyya is Professor of the History of the Anthropocene at the University of Zürich. She is the author of Empire and Ecology in the Bengal Delta: The Making of Calcutta (Cambridge University Press, 2018), which won the 2019 honorable mention for the best book in Urban History. She completed her doctorate under the advisement of Dr. Jeffrey Lesser, Samuel Candler Dobbs Professor of History.























