Assessing nature-related risks in the Hungarian financial system: Charting the impact of nature's financial echo

Riccardo Boffo, Hugh Miller, Gabriel Santos Carneiro and Gürcan Zeren Gülersoy

No 243, OECD Environment Working Papers from OECD Publishing

Abstract: This paper presents a technical assessment of nature-related risks within the Hungarian economy and financial system. The study draws upon the OECD Supervisory Framework to (i) prioritise various nature-related risks by conducting an impact and dependency assessment, identifying key economic sectors, and pinpointing the critical natural capital assets that are most crucial to the financial system; (ii) assess the direct and indirect economic impact of three exploratory scenarios on possible acute nature-related shocks using input-output analysis; (iii) explore the different financial risk channels through which economic risks stemming from nature-related losses may be transmitted within the Hungarian financial system; and (iv) provide supervisory recommendations based on the results.

Keywords: biodiversity; economics; finance and investment; financial materiality; nature; nature-related risks (search for similar items in EconPapers)
JEL-codes: C67 E44 E58 G14 G21 H63 Q20 (search for similar items in EconPapers)
Date: 2024-06-30
New Economics Papers: this item is included in nep-ban and nep-env
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Persistent link: https://EconPapers.repec.org/RePEc:oec:envaaa:243-en

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