How does carbon trading price matter for bank loans? Evidence from Chinese banking sector

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2024-08-30 DOI:10.1016/j.frl.2024.106020

引用次数: 0

Abstract

This paper investigates the impact of carbon trading prices on Chinese commercial banks. We propose a stress test model to calculate the decline of firms’ liabilities and the climate-driven loss of commercial banks to different industries. The results indicate that State-Owned Banks suffer the highest climate-driven loss among all types of banks. City commercial banks suffer the highest climate-driven loss ratio since they maintain a relatively low level of Tier 1 core capital. Beijing, Shanghai, Jiangsu, and Zhejiang maintain the highest levels of climate-driven loss ratio. Furthermore, the allocation of loans portfolio across different industries also influences climate-driven loss of banks. The climate-driven loss to the electric power, heat, gas, and water production and supply sector is the largest in all industries. It is necessary for banks to incorporate climate factors into the risk assessment framework.

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碳交易价格对银行贷款有何影响？来自中国银行业的证据

本文研究了碳交易价格对中国商业银行的影响。我们提出了一个压力测试模型来计算不同行业的企业负债下降和商业银行的气候驱动损失。结果表明，在各类银行中，国有银行遭受的气候驱动损失最高。城市商业银行的一级核心资本水平相对较低，因此气候驱动损失率最高。北京、上海、江苏和浙江的气候驱动损失率水平最高。此外，贷款组合在不同行业间的分配也会影响银行的气候驱动损失。在所有行业中，电力、热力、燃气及水生产和供应业的气候驱动损失最大。银行有必要将气候因素纳入风险评估框架。

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

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance

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