Climate Change and Financial Policy: A Literature Review

Benjamin Dennis

No 2022-048, Finance and Economics Discussion Series from Board of Governors of the Federal Reserve System (U.S.)

Abstract: This article reviews the rapidly proliferating economic literature on climate change and financial policy. We find: (1) enduring challenges in estimating the statistical properties of a changed climate; (2) emerging evidence of financial markets pricing in climate-related risks; and (3) a range of significant institutional distortions preventing such pricing from being complete. Finally, we argue that geographic regions may be an especially fruitful unit of analysis for understanding the financial impact of climate change.

Keywords: Climate change; Climate-finance; Climate-related risk (search for similar items in EconPapers)
JEL-codes: G10 G20 Q54 (search for similar items in EconPapers)
Pages: 72 p.
Date: 2022-07-29
New Economics Papers: this item is included in nep-agr, nep-ban, nep-ene, nep-env and nep-fdg
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfe:2022-48

DOI: 10.17016/FEDS.2022.048

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