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  1. A risky bet: Should the EU choose a microprudential or a credit guidance approach to climate risk?
    Author: Smoleńska, Agnieszka; Klooster, Jens van 't
    Published: 25/10/2021
    Publisher:  European Banking Institute e.V., Frankfurt am Main, Germany

    Banking regulation and supervision have a key role to play in realising the EU’s climate change objectives. In this article we analyse the EU-level initiatives currently underway to green the banking system, in particular with regard to the... more

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    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Inter-library loan:
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 636
    Inter-library loan:
    No inter-library loan

     

    Banking regulation and supervision have a key role to play in realising the EU’s climate change objectives. In this article we analyse the EU-level initiatives currently underway to green the banking system, in particular with regard to the microprudential rulebook. We document how regulators work hard to fit climate change concerns into the existing objectives of the microprudential framework. We also assess whether these efforts are likely to be successful by sketching two ways forward, which involve their own distinct hazards. The first is a predominantly microprudential approach which sees policy-makers take action to force banks to develop adequate internal risk management procedures while taking a largely agnostic approach as to what methodologies are appropriate. If this is the way forward, we see a number of risks: banks have a clear incentive to downplay risk, while large financial institutions gain a significant advantage and the distribution of responsibility between banks and supervisors becomes blurred. We also outline a second “credit guidance” approach, in which regulators provide fine-grained guidance on how banks should evaluate climate risk. Although we broadly think this approach is the more effective route to greening EU banking, we also see challenges of an entirely different sort: regulators will unavoidably face political choices and EU lawmakers need to consider issues of legality, legitimacy and accountability. In this regard, we argue, the EU faces a risky bet

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    Series: EBI working paper series ; no. 104 (2021)
    Subjects: sustainable finance; prudential regulation; banking supervision; European Banking Authority; taxonomy; climate change risk
    Scope: 1 Online-Ressource (circa 26 Seiten)
  2. EU sustainability taxonomy for non -financial undertakings
    summary reporting criteria and extension to SMEs
    Author: Giacomelli, Andrea
    Published: [2021]
    Publisher:  Department of Economics, Ca’ Foscari University of Venice, Venice Italy

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    VS 495
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working paper / Ca' Foscari University of Venice, Department of Economics ; 2021, no. 29
    Subjects: EU sustainability taxonomy; environmental sustainability; sustainability plan; sustainable investment; ESG risk; climate change risk; transition risk; ESG sustainability report
    Scope: 1 Online-Ressource (circa 68 Seiten), Illustrationen
  3. Climate change risk and the costs of mortgage credit
    Author: Nguyen, Duc Duy; Ongena, Steven; Qi, Shusen; Sila, Vathunyoo
    Published: 2020
    Publisher:  Swiss Finance Institute, Geneva

    We show that lenders charge higher interest rates for mortgages on properties exposed to a greater risk of sea level rise (SLR). This SLR premium is not evident in short-term loans and is not related to borrowers’ short-term realized default or... more

    Access:
    Resolving-System (kostenfrei)
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 544
    Inter-library loan:
    No inter-library loan

     

    We show that lenders charge higher interest rates for mortgages on properties exposed to a greater risk of sea level rise (SLR). This SLR premium is not evident in short-term loans and is not related to borrowers’ short-term realized default or creditworthiness. Further, the SLR premium is smaller when the consequences of climate change are less salient and in areas with more climate change deniers. Overall, our results suggest that mortgage lenders view the risk of SLR as a long-term risk, and that attention and beliefs are potential channels through which SLR risk is priced in residential mortgage markets

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    Series: Research paper series / Swiss Finance Institute ; no 20, 97
    Subjects: bank loans; residential mortgage; climate change risk; sea level rise
    Scope: 1 Online-Ressource (circa 46 Seiten), Illustrationen