Climate change and financial stability

Margherita Giuzio, Dejan Krušec, Anouk Levels, Ana Sofia Melo, Katri Mikkonen and Petya Radulova

Financial Stability Review, 2019, vol. 1

Abstract: This special feature discusses the channels through which climate change can affect financial stability and illustrates the exposure of euro area financial institutions to risks from climate change with the help of granular data. Notwithstanding currently limited data availability, the analysis shows that climate change-related risks have the potential to become systemic for the euro area, in particular if markets are not pricing the risks correctly. A deeper understanding of the relevance of climate change-related risks for the euro area financial system at large is therefore needed. Better data availability and comparability and the development of a forward-looking framework for risk assessments are important aspects of this work going forward. JEL Classification: G01, G18, G20, Q54

Keywords: carbon emissions; climate change; financial institutions; financial stability (search for similar items in EconPapers)
Date: 2019-05
Note: 3546207
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Citations: View citations in EconPapers (20)

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Persistent link: https://EconPapers.repec.org/RePEc:ecb:fsrart:2019:0001:1

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