Skip to main navigation Skip to main content
info(at)avldigital.remove-this.de
Deutsch English
Narrow Search
Search narrowed by
Last searches

Results for *

Displaying results 1 to 24 of 24.

  1. The CO 2 content of the TLTRO III scheme and its greening
    Author: Colesanti Senni, Chiara; Pagliari, Maria Sole; Klooster, Jens van 't
    Published: May 2023
    Publisher:  Grantham Research Institute on Climate Change and the Environment, London

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    Keine Rechte
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Centre for Climate Change Economics and Policy working paper ; no. 422
    Grantham Research Institute on Climate Change and the Environment working paper ; no. 398
    Subjects: TLTRO; CO 2 emissions; transition risk; monetary policy; financial stability
    Scope: 1 Online-Ressource (circa 36 Seiten)
  2. The greening of lending
    mortgage pricing of energy transition risk
    Author: Bell, Jennifer; Battisti, Giuliana; Guin, Benjamin
    Published: [2023]
    Publisher:  Bank of England, London

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 443
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Staff working paper / Bank of England ; no. 1016 (March 2023)
    Subjects: Mortgage pricing; energy efficiency; climate change; transition risk
    Scope: 1 Online-Ressource (circa 26 Seiten), Illustrationen
  3. Climate policy and transition risk in the housing market
    Author: Ferentinos, Konstantinos; Gibberd, Alex; Guin, Benjamin
    Published: April 2021
    Publisher:  Bank of England, London

    Access:
    Verlag (lizenzpflichtig)
    Verlag (lizenzpflichtig)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 443
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Staff working paper / Bank of England ; no. 918
    Subjects: Climate policy; transition risk; house prices; financial stability; wealth inequality
    Scope: 1 Online-Ressource (circa 44 Seiten), Illustrationen
  4. Pricing climate transition risk
    evidence from European corporate CDS
    Author: Vozian, Katia; Costola, Michele
    Published: [2023]
    Publisher:  Leibniz Institute for Financial Research SAFE, Sustainable Architecture for Finance in Europe, [Frankfurt am Main]

    The European low-carbon transition began in the last few decades and is accelerating to achieve net-zero emissions by 2050. This paper examines how climate-related transition indicators of a large European corporate firm relate to its CDS-implied... more

    Access:
    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 431
    Inter-library loan:
    No inter-library loan

     

    The European low-carbon transition began in the last few decades and is accelerating to achieve net-zero emissions by 2050. This paper examines how climate-related transition indicators of a large European corporate firm relate to its CDS-implied credit risk across various time horizons. Findings show that firms with higher GHG emissions have higher CDS spreads at all tenors, including the 30-year horizon, particularly after the 2015 Paris Agreement, and in prominent industries such as Electricity, Gas, and Mining. Results suggest that the European CDS market is currently pricing, to some extent, albeit small, the exposure to transition risk for a firm across different time horizons. However, it fails to account for a company's efforts to manage transition risks and its exposure to the EU Emissions Trading Scheme. CDS market participants seem to find challenging to risk-differentiate ETS-participating firms from other firms.

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/271518
    Series: SAFE working paper ; no. 387 (May 2023)
    Subjects: climate change; transition risk; credit risk; credit default swap; emissionstrading system (ETS); financial markets
    Scope: 1 Online-Ressource (circa 91 Seiten), Illustrationen
  5. The effect of U.S. climate policy on financial markets
    an event study of the inflation reduction act
    Author: Bauer, Michael D.; Offner, Eric A.; Rudebusch, Glenn D.
    Published: November 2023
    Publisher:  CESifo, Munich, Germany

    The Inflation Reduction Act of 2022 (IRA) represents the largest climate policy action ever undertaken in the United States. Its legislative path was marked by two abrupt shifts as the likelihood of climate policy action fell to near zero and then... more

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

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 63
    Inter-library loan:
    No inter-library loan

     

    The Inflation Reduction Act of 2022 (IRA) represents the largest climate policy action ever undertaken in the United States. Its legislative path was marked by two abrupt shifts as the likelihood of climate policy action fell to near zero and then rose to near certainty. We investigate equity price reactions to these two events, which represent major realizations of climate policy transition risk. Our results highlight the heterogeneous nature of climate policy risk exposure. We find sizable reactions that differ by industry as well as across firm-level measures of greenness such as environmental scores and emission intensities. While the financial market response to the IRA was economically significant, it did not lead to instability or financial stress, suggesting that transition risks posed by climate policies even as ambitious as the IRA may be manageable.

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/282427
    Series: CESifo working papers ; 10739 (2023)
    Subjects: transition risk; stranded assets; event study; carbon emissions; ESG scores; green stocks; brown stocks
    Scope: 1 Online-Ressource (circa 38 Seiten), Illustrationen
  6. The CO2 content of the TLTRO III scheme and its greening
    Author: Colesanti Senni, Chiara; Pagliari, Maria Sole; Klooster, Jens van 't
    Published: [2023]
    Publisher:  De Nederlandsche Bank NV, Amsterdam, The Netherlands

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    ZSS 28
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: DNB working paper ; no. 792 (October 2023)
    Subjects: TLTRO; CO2 emissions; transition risk; monetary policy; financial stability
    Scope: 1 Online-Ressource (circa 38 Seiten), Illustrationen
  7. The effect of U.S. climate policy on financial markets
    an event study of the inflation reduction act
    Author: Bauer, Michael D.; Offner, Eric A.; Rudebusch, Glenn D.
    Published: [2023]
    Publisher:  Federal Reserve Bank of San Francisco, [San Francisco, CA]

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

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 385
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: Working papers series / Federal Reserve Bank of San Francisco ; 2023, 30 (September 2023)
    Subjects: transition risk; stranded assets; event study; carbon emissions; ESG scores; green stocks; brown stocks
    Scope: 1 Online-Ressource (circa 37 Seiten), Illustrationen
  8. Climate change and fiscal sustainability
    risks and opportunities
    Author: Agarwala, Matthew; Burke, Matt; Klusak, Patrycja; Mohaddes, Kamiar; Volz, Ulrich; Zenghelis, Dimitri
    Published: [2021]
    Publisher:  University of Cambridge, Faculty of Economics, Cambridge

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

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VSP 1362
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: Cambridge working paper in economics ; 2163
    Janeway Institute working paper series ; 2021, 07
    Subjects: Sovereign debt; climate change; net zero; transition risk; productivity
    Scope: 1 Online-Ressource (circa 21 Seiten), Illustrationen
  9. The low-carbon transition, climate commitments and firm credit risk
    Author: Carbone, Sante; Giuzio, Margherita; Kapadia, Sujit; Krämer, Johannes Sebastian; Nyholm, Ken; Vozian, Katia
    Published: January 2022
    Publisher:  Sveriges Riksbank, Stockholm

    This paper explores how the need to transition to a low-carbon economy influences credit risk. It develops a novel dataset covering firms' greenhouse gas emissions over time alongside information on strategies for managing transition risk, including... more

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

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 204
    Inter-library loan:
    No inter-library loan

     

    This paper explores how the need to transition to a low-carbon economy influences credit risk. It develops a novel dataset covering firms' greenhouse gas emissions over time alongside information on strategies for managing transition risk, including climate disclosure practices and forward-looking emission reduction targets. It assesses how such metrics influence firms' credit ratings and their market-implied distance-to-default. High emissions tend to be associated with higher credit risk. But disclosing emissions and setting emission reduction targets are associated with lower credit risk, with the effect somewhat stronger for more ambitious climate commitments. After the Paris agreement, firms most exposed to transition risk also saw their ratings deteriorate relative to otherwise comparable firms, with the effect larger for European than US firms, probably reflecting differential climate policy expectations. These results have policy implications for corporate disclosures and strategies around climate change, and the treatment of climate-related transition risk in the financial sector

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/251307
    Series: Sveriges Riksbank working paper series ; 409
    Subjects: climate change; transition risk; disclosure; net zero; green finance; credit risk
    Scope: 1 Online-Ressource (circa 82 Seiten), Illustrationen
  10. A climate change modelling framework for financial stress testing in Southern Africa
    Author: Anvari, Vafa; Arndt, Channing; Hartley, Faaiqa; Makrelov, Konstantin; Strezepek, Kenneth; Thomas, Timothy; Gabriel, Sherwin; Merven, Bruno
    Published: 5 August 2022
    Publisher:  Economic Research and Statistics Department, South African Reserve Bank, Pretoria

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 655
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: South African Reserve Bank working paper series ; WP, 22, 09
    Subjects: climate change models; transition risk; physical risk; central banks; South Africa
    Scope: 1 Online-Ressource (circa 56 Seiten), Illustrationen
  11. Analysis of ESG disclosures in pillar 3 reports
    a text mining approach
    Author: Moreno Bernal, Ángel Iván; Caminero García, Teresa
    Published: 2022
    Publisher:  Banco de España, Madrid

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 513
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Documentos ocasionales / Banco de España ; no. 2204
    Subjects: ESG; environment; social; governance; sustainability; climate change; carbon emissions; environmental risks; physical risk; transition risk; natural language processing; Pillar 3
    Scope: 1 Online-Ressource (circa 28 Seiten), Illustrationen
  12. 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

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 495
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    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
  13. Climate stress test
    bad (or good) news for the market? : an event study analysis on euro zone banks
    Author: Torricelli, Costanza; Ferrari, Fabio
    Published: May 2022
    Publisher:  CEFIN, Centro Studi di Banca e Finanza, Dipartimento di Economia Marco Biagi, Università di Modena e Reggio Emilia, Modena (Italy)

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 667
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: CEFIN working papers ; no 86
    Subjects: banks climate stress test; physical risk; transition risk; abnormal returns; event study
    Scope: 1 Online-Ressource (circa 28 Seiten), Illustrationen
  14. Dati e metodi per la valutazione dei rischi climatici e ambientali in Italia
    Author: Lavecchia, Luciano; Appodia, Jacopo; Cantatore, Paolo; Cappariello, Rita; Di Virgilio, Stefano; Felettigh, Alberto; Giustini, Andrea; Guberti, Valeria; Liberati, Danilo; Meucci, Giorgio; Piermattei, Stefano; Schimperna, Federico; Specchia, Katia
    Published: [2022]
    Publisher:  Banca d'Italia, [Rom]

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

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 547
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: Italian
    Media type: Book
    Format: Online
    Other identifier:
    Series: Questioni di economia e finanza / Banca d'Italia ; number 732 (November 2022)
    Subjects: sustainable data gap; climate change; sustainable finance; physical risk; transition risk; GHG emissions; energy
    Scope: 1 Online-Ressource (circa 45 Seiten)
  15. Physical and transition risk premiums in euro area corporate bond markets
    Author: Bats, Joost; Bua, Giovanna; Kapp, Daniel
    Published: [2023]
    Publisher:  De Nederlandsche Bank NV, Amsterdam, The Netherlands

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    ZSS 28
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: DNB working paper ; no. 761 (January 2023)
    Subjects: Climate risk; physical risk; transition risk; corporate bonds
    Scope: 1 Online-Ressource (circa 23 Seiten), Illustrationen
  16. Where Is the carbon premium?
    global performance of green and brown stocks
    Author: Bauer, Michael D.; Huber, Daniel; Rudebusch, Glenn D.; Wilms, Ole
    Published: January 2023
    Publisher:  CESifo, Munich, Germany

    The relative equity pricing of more climate-friendly ("green") versus less climate-friendly ("brown") companies is an open question in climate finance. Previous research comes to conflicting conclusions, documenting either a "carbon premium" with... more

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

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 63
    Inter-library loan:
    No inter-library loan

     

    The relative equity pricing of more climate-friendly ("green") versus less climate-friendly ("brown") companies is an open question in climate finance. Previous research comes to conflicting conclusions, documenting either a "carbon premium" with brown stocks yielding higher returns, or the opposite, with green stocks outperforming brown. This paper provides new international evidence on this issue for a range of methodologies. Using carbon dioxide (CO2) emissions as reported by companies to measure their greenness, we document that green stocks across the G7 have generally provided higher returns than brown stocks for much of the past decade. We also try to reconcile our findings with previous work, and we provide some results for early 2022 that show that brown stocks outperformed green ones during the energy crisis.

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/271890
    Series: CESifo working papers ; 10246 (2023)
    Subjects: climate risk; transition risk; carbon emissions; green stocks; brown stocks
    Scope: 1 Online-Ressource (circa 45 Seiten), Illustrationen
  17. Where is the carbon premium?
    global performance of green and brown stocks
    Author: Bauer, Michael D.; Huber, Daniel; Rudebusch, Glenn; Wilms, Ole
    Published: 20 January 2023
    Publisher:  Centre for Economic Policy Research, London

    Access:
    Verlag (lizenzpflichtig)
    Verlag (lizenzpflichtig)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    LZ 161
    Inter-library loan:
    No inter-library loan

    Location:
    Universitätsbibliothek Mannheim
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Array ; DP17824
    Subjects: climate risk; transition risk; carbon emissions; green stocks; brown stocks
    Scope: 1 Online-Ressource (circa 46 Seiten)
  18. Do Investors Care About Carbon Risk? A Global Perspective
    Author: Zhang, Shaojun
    Published: [2022]
    Publisher:  SSRN, [S.l.]

    Companies face significant carbon-transition risk as the global economy works to combat climate change. This paper studies the market-based premium associated with the carbon-transition risk globally and finds that firms with more carbon-intense... more

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

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

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

     

    Companies face significant carbon-transition risk as the global economy works to combat climate change. This paper studies the market-based premium associated with the carbon-transition risk globally and finds that firms with more carbon-intense business models earn higher returns in recent years. The carbon return is impacted by climate-aware institutional flows, is magnified following heightened climate policy risk, and is lower in countries with more institutional presence, higher levels of development, less physical risk, and better governance. The finding suggests that pricing the carbon-transition risk is well under-way globally but combating climate change requires further global coordination beyond current regulatory actions

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: Fisher College of Business Working Paper ; No. 2022-03-006
    Subjects: carbon emissions; climate change; transition risk; predictability; stock returns
    Other subjects: Array
    Scope: 1 Online-Ressource (64 p)
    Notes:

    Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments July 22, 2022 erstellt
  19. Climate change and fiscal sustainability
    risks and opportunities
    Author: Agarwala, Matthew; Burke, Matt; Klusak, Patrycja; Mohaddes, Kamiar; Volz, Ulrich; Zenghelis, Dimitri
    Published: September 3, 2021
    Publisher:  Australian National University, Crawford School of Public Policy, Centre for Applied Macroeconomic Analysis, Canberra

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VSP 1716
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: CAMA working paper ; 2021, 80 (September 2021)
    Subjects: Sovereign debt; climate change; net zero; transition risk; productivity
    Scope: 1 Online-Ressource (circa 19 Seiten), Illustrationen
  20. Bank carbon risk index - a simple indicator of climate-related transition risks of lending activity
    Author: Bokor, László
    Published: September 2021
    Publisher:  Magyar Nemzeti Bank, Budapest

    I propose a simple indicator of climate-related transition risks of banks’ lending activity based on transaction-level loan data. The underlying idea is that the higher the greenhouse gas intensity of an economic activity (and so a debtor), the... more

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

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 199
    Inter-library loan:
    No inter-library loan

     

    I propose a simple indicator of climate-related transition risks of banks’ lending activity based on transaction-level loan data. The underlying idea is that the higher the greenhouse gas intensity of an economic activity (and so a debtor), the higher its transition risk. Recent Hungarian trends of this indicator alerts to significantly regrowing risks.

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/241070
    Series: MNB occasional papers ; 141
    Subjects: climate change; transition risk; greenhouse gas intensity; lending activity; risk indicator
    Scope: 1 Online-Ressource (circa 22 Seiten), Illustrationen
  21. The pricing of carbon risk in syndicated loans: which risks are priced and why?
    Author: Ehlers, Torsten; Packer, Frank; Greiff, Kathrin de
    Published: 2021
    Publisher:  Bank for International Settlements, Monetary and Economic Department, [Basel]

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 546
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: BIS working papers ; no 946 (June 2021)
    Subjects: environmental policy; climate policy risk; transition risk; loan pricing
    Scope: 1 Online-Ressource (circa 29 Seiten), Illustrationen
  22. Climate actions and stranded assets
    the role of financial regulation and monetary policy
    Author: Diluiso, Francesca; Annicchiarico, Barbara; Kalkuhl, Matthias; Minx, Jan C.
    Published: [2020]
    Publisher:  CEIS Tor Vergata, [Rom]

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 665
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: CEIS Tor Vergata research paper series ; vol. 18, issue 8 = no. 501 (July 2020)
    Subjects: Climate policy; financial instability; financial regulation; green credit policy monetary policy; transition risk
    Scope: 1 Online-Ressource (circa 47 Seiten), Illustrationen
  23. Climate change and fiscal sustainability
    risks and opportunities
    Author: Agarwala, Matthew; Burke, Matt; Klusak, Patrycja; Mohaddes, Kamiar; Volz, Ulrich; Zenghelis, Dimitri
    Published: [2021]
    Publisher:  Economic Research Forum (ERF), Dokki, Giza, Egypt

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 592
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: ERF working papers series ; no. 1502 (November 2021)
    Subjects: Sovereign debt; climate change; net zero; transition risk; productivity
    Scope: 1 Online-Ressource (circa 22 Seiten), Illustrationen
  24. Measuring the climate risk exposure of insurers
    Author: Jung, Hyeyoon; Engle, Robert F.; Ge, Shan; Zeng, Xuran
    Published: [2023]
    Publisher:  Federal Reserve Bank of New York, [New York, NY]

    Insurance companies can be exposed to climate-related physical risk through their operations and to transition risk through their $12 trillion of financial asset holdings. We assess the climate risk exposure of property and casualty (P&C) and life... more

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

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 207
    Inter-library loan:
    No inter-library loan

     

    Insurance companies can be exposed to climate-related physical risk through their operations and to transition risk through their $12 trillion of financial asset holdings. We assess the climate risk exposure of property and casualty (P&C) and life insurance companies in the U.S. We construct a novel physical risk factor by forming a portfolio of P&C insurers' stocks, with each insurer's weight reflecting their operational exposure to states associated with high physical climate risk. We then estimate the dynamic physical climate beta, representing the stock return sensitivity of each insurer to the physical risk factor. In addition, using the climate beta estimates introduced by Jung et al. (2021), we calculate the expected capital shortfall of insurers under various climate stress scenarios. We validate our approach by utilizing granular data on insurers' asset holdings and state-level operational exposure. Our findings indicate a positive association between larger exposures to risky states and higher holdings of brown assets with higher sensitivity to physical and transition risk, respectively.

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/284026
    Series: Staff reports / Federal Reserve Bank of New York ; no. 1066 (July 2023)
    Subjects: insurance; climate change; physical risk; transition risk
    Scope: 1 Online-Ressource (circa 54 Seiten), Illustrationen