Ligia Catherine Arias-Barrera holds a Ph.D. in law from the University of Warwick, and an LL.M in commercial and corporate law from Queen Mary University of London. She is Associate Professor at the School of Law of the Externado de Colombia University, Private Consultant in Financial Law Services in Colombia, the UK and the EU, and Member of the Group of Experts in Capital Markets and Financial Regulation at the Ibero-American Institute for Law and Finance.

• 1. Introduction2. The Rationale of Sustainable Finance3. Contextualising Financial Derivatives and Regulation4. What if Financial Derivatives are Effective Tools to Hedge ESG Risks?5. The Problem of Environmental Risks and Uncertainties in ESG Derivatives6. Profile: ESG Derivatives as a Social Licence7. Beyond Traditional Governance Risks and Uncertainties in ESG Derivatives8. Final Remarks

Ligia Catherine Arias-Barrera holds a Ph.D. in law from the University of Warwick, and an LL.M in commercial and corporate law from Queen Mary University of London. She is Associate Professor at the School of Law of the Externado de Colombia University, Private Consultant in Financial Law Services in Colombia, the UK and the EU, and Member of the Group of Experts in Capital Markets and Financial Regulation at the Ibero-American Institute for Law and Finance.

• 1. Introduction2. The Rationale of Sustainable Finance3. Contextualising Financial Derivatives and Regulation4. What if Financial Derivatives are Effective Tools to Hedge ESG Risks?5. The Problem of Environmental Risks and Uncertainties in ESG Derivatives6. Profile: ESG Derivatives as a Social Licence7. Beyond Traditional Governance Risks and Uncertainties in ESG Derivatives8. Final Remarks

Ligia Catherine Arias-Barrera holds a Ph.D. in law from the University of Warwick, and an LL.M in commercial and corporate law from Queen Mary University of London. She is Associate Professor at the School of Law of the Externado de Colombia University, Private Consultant in Financial Law Services in Colombia, the UK and the EU, and Member of the Group of Experts in Capital Markets and Financial Regulation at the Ibero-American Institute for Law and Finance.

• 1. Introduction2. The Rationale of Sustainable Finance3. Contextualising Financial Derivatives and Regulation4. What if Financial Derivatives are Effective Tools to Hedge ESG Risks?5. The Problem of Environmental Risks and Uncertainties in ESG Derivatives6. Profile: ESG Derivatives as a Social Licence7. Beyond Traditional Governance Risks and Uncertainties in ESG Derivatives8. Final Remarks