Climate change can be a source of financial risk. This paper examines how credit rating agencies accepted by the Eurosystem incorporate climate change risk in their credit ratings. It also analyses how rating agencies disclose their assessments of climate change risks to rating users. The paper...

Climate change is one of the greatest challenges facing humankind this century. If left unchecked, it is likely to result in more frequent and severe climatic events, with the potential to cause substantial disruption to our economies, businesses and livelihoods in the coming decades. Yet the...

The transition towards a sustainable economy is currently one of the most pressing issues for managers, stakeholders and policy makers. For the banking sector, several regulatory initiatives have been promoted by European Supervisors and Regulators, which have recognized the pivotal role of...

In the context of the rapid changes that have occurred in recent years, characterized by veritable "black swans" such as the COVID19 pandemic and extreme weather events that are occurring with increasing frequency, the issue of climate change has come into the focus of banking regulators and...