Spanish securities issuers and their relstionship with climate change

Albert Martínez Pastor Ramiro Losada

CNMV Working Papers from CNMV- Spanish Securities Markets Commission - Research and Statistics Department

Abstract: The main objective of this work is to carry out a first estimation on the amount of the greenhouse gas emissions of Spanish issuers of securities. It also carries out an initial exercise on the degree of alignment of their emission reduction goals with the objectives set out in the Paris Agreement and in the European Union. In addition we assess the extent to which the challenges deriving from climate change have been incorporated into business management, particularly in the area of corporate governance, the risks and opportunities identified and specific emission reduction goals set. This document forms part of the work carried out to fulfil the mandate established in Law 7/2021, of May 20, on climate change and ecological transition ( the "Clima Change Law"). Article 33 establishes that every two years the Bank of Spain, the CNMV and the General Directorate of Insurance must prepare a coordinated report within the AMCESFI (Spanish acronym for "Spain's Macroprudential Authority Financial Stability Council") on the degree of alignment with the climate goals of the Paris Agreement and with the regulations of the European Union and an assessment of the risk to the financial system deriving from climate change.

Keywords: Climate change; securities issuers; Low-carbon transition; CHG emissions (search for similar items in EconPapers)
JEL-codes: G11 G12 G32 Q51 (search for similar items in EconPapers)
Date: 2023
New Economics Papers: this item is included in nep-ene and nep-env
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.cnmv.es/DocPortal/Publicaciones/MONOGR ... bio_clima_EN_2en.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cnv:wpaper:dt_82en

Ordering information: This working paper can be ordered from
Dpto. de Estudios y Estadísticas Comisión Nacional del Mercado de Valores Edison, 4 28006 Madrid, Spain
rlosada@cnmv.es

Access Statistics for this paper

More papers in CNMV Working Papers from CNMV- Spanish Securities Markets Commission - Research and Statistics Department Contact information at EDIRC.
Bibliographic data for series maintained by Jose María Moreno (jmmoreno@cnmv.es).