Climate stress testing in the financial industry

IF 6.6 2区环境科学与生态学 Q1 ENVIRONMENTAL SCIENCES

Current Opinion in Environmental Sustainability Pub Date : 2023-12-29 DOI:10.1016/j.cosust.2023.101401

Olaf Weber

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引用次数: 0

Abstract

Climate-related risks for the financial sector have been discussed since the then-Governor of the Bank of England mentioned these risks as the tragedy of the horizon. Shortly after, research about stress-testing the impact of climate change on the financial sector was published. They use various methods that address the climate-related Value-at Risk and other financial risks. We conducted a systematic literature analysis in Scopus and analyzed the data using VOSViewer. In addition, we analyzed the most cited papers in detail. Our analyses found that stress testing, as a sustainable finance risk management tool to address financial stability, connects climate change with financial risks. Different stress-testing approaches found significant climate-related financial impacts on equity and loan portfolios. We conclude that research is needed to guarantee reliable, valid, and standardized climate-related stress testing.

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金融业气候压力测试

自从时任英格兰银行行长将与气候相关的金融业风险称为地平线上的悲剧以来，人们就一直在讨论这些风险。不久之后，有关气候变化对金融业影响的压力测试研究也发表了。这些研究采用了各种方法来应对与气候相关的风险价值和其他金融风险。我们在 Scopus 中进行了系统的文献分析，并使用 VOSViewer 对数据进行了分析。此外，我们还详细分析了被引用次数最多的论文。我们的分析发现，压力测试作为解决金融稳定性问题的可持续金融风险管理工具，将气候变化与金融风险联系在一起。不同的压力测试方法对股票和贷款组合产生了重大的气候相关金融影响。我们的结论是，需要开展研究，以确保与气候相关的压力测试可靠、有效和标准化。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Current Opinion in Environmental Sustainability ENVIRONMENTAL SCIENCES-ENVIRONMENTAL SCIENCES

CiteScore

13.80

自引率

2.80%

发文量

审稿时长

6-12 weeks

期刊介绍： "Current Opinion in Environmental Sustainability (COSUST)" is a distinguished journal within Elsevier's esteemed scientific publishing portfolio, known for its dedication to high-quality, reproducible research. Launched in 2010, COSUST is a part of the Current Opinion and Research (CO+RE) suite, which is recognized for its editorial excellence and global impact. The journal specializes in peer-reviewed, concise, and timely short reviews that provide a synthesis of recent literature, emerging topics, innovations, and perspectives in the field of environmental sustainability.