Environmental Hazards and Risk Management in the Financial Sector: A Systematic Literature Review
Duc Khuong Nguyen and
No 1910, Working Papers on Finance from University of St. Gallen, School of Finance
We conduct a systematic literature review on environmental and climate related risk management in the financial sector. The systematic literature review identified a total of 36 relevant articles. A formal coding leads to the aggregation and classification of papers to three main categories that consider the impact of environmental concerns on financial risk, the current state of environmental risk practices in the finance sector, and lastly measures to assess those risks within financial institutions. Our results put forward the risk reduction for financial institutions which highly commit with environmental responsibility and performance. More importantly, investors’ increase in awareness and willingness to assess climate-related financial risk would incentivize corporate managers to adopt more proactive environmental policies and practices. These findings also allow for intriguing discussions about several alleys for future research.
Keywords: Environment; Climate; Risk Management; Banking; Financial Institutions (search for similar items in EconPapers)
Pages: 50 pages
New Economics Papers: this item is included in nep-env, nep-his and nep-rmg
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Journal Article: ENVIRONMENTAL HAZARDS AND RISK MANAGEMENT IN THE FINANCIAL SECTOR: A SYSTEMATIC LITERATURE REVIEW (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:usg:sfwpfi:2019:10
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