Environmental Credit Risk, Climate Change and Bank Performance: Evidence From a Global Panel of Banks

IF 13.3 1区管理学 Q1 BUSINESS

Business Strategy and The Environment Pub Date : 2025-10-07 DOI:10.1002/bse.70259

Kenza Mouti, Erhan Kilincarslan, Jiafan Li

引用次数: 0

Abstract

This study examines the impact of environmental credit risk on bank financial performance, with a particular focus on the moderating role of country‐level climate risk. Using a global panel of 345 listed banks across 75 countries from 2018 to 2022, we measure environmental credit risk through Fitch Ratings' Environmental Relevance Scores. The results show that greater exposure to environmental credit risk, arising from both borrower‐level vulnerabilities and banks' own ESG profiles, is associated with lower profitability, reduced solvency and diminished market valuation. Interestingly, this negative relationship is partially mitigated in countries with higher climate risk, suggesting that institutional awareness and environmental governance can buffer adverse financial outcomes. These findings are robust across alternative performance metrics, identification strategies and estimation techniques. The study offers practical implications for bank risk management, investor ESG strategies and policymaking at the intersection of environmental, climate and financial systems.

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环境信贷风险、气候变化与银行绩效：来自全球银行小组的证据

本研究考察了环境信贷风险对银行财务绩效的影响，特别关注国家层面气候风险的调节作用。从2018年到2022年，我们利用75个国家的345家上市银行的全球面板，通过惠誉评级的环境相关性评分来衡量环境信用风险。结果表明，由于借款人层面的脆弱性和银行自身的ESG概况，环境信贷风险的暴露程度越高，与盈利能力降低、偿付能力降低和市场估值下降有关。有趣的是，这种负相关关系在气候风险较高的国家得到部分缓解，这表明制度意识和环境治理可以缓冲不利的金融后果。这些发现在不同的性能度量、识别策略和评估技术中都是可靠的。该研究为银行风险管理、投资者ESG战略以及环境、气候和金融系统交叉领域的政策制定提供了实际意义。

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

Business Strategy and The Environment Multiple-

CiteScore

22.50

自引率

19.40%

发文量

336

期刊介绍： Business Strategy and the Environment (BSE) is a leading academic journal focused on business strategies for improving the natural environment. It publishes peer-reviewed research on various topics such as systems and standards, environmental performance, disclosure, eco-innovation, corporate environmental management tools, organizations and management, supply chains, circular economy, governance, green finance, industry sectors, and responses to climate change and other contemporary environmental issues. The journal aims to provide original contributions that enhance the understanding of sustainability in business. Its target audience includes academics, practitioners, business managers, and consultants. However, BSE does not accept papers on corporate social responsibility (CSR), as this topic is covered by its sibling journal Corporate Social Responsibility and Environmental Management. The journal is indexed in several databases and collections such as ABI/INFORM Collection, Agricultural & Environmental Science Database, BIOBASE, Emerald Management Reviews, GeoArchive, Environment Index, GEOBASE, INSPEC, Technology Collection, and Web of Science.