Economic activity depends on a flourishing biodiversity and intact environment through the provision of ecosystem services. The depletion of these services poses physical risks for the financial sector. This paper attempts to measure the potential exposure of the banking systems in 20 emerging...

Access to finance is a key obstacle for the growth and development of small and medium-sized enterprises in fragile and conflict affected situations. This paper provides empirical evidence on the key macrofinancial and institutional drivers of financial inclusion of small and medium-sized...

This paper assesses the vulnerability of credit guarantee schemes to the physical and transition risks related to climate change. Based on unique sectoral and spatial data from 29 European credit guarantee schemes linked to a range of vulnerability metrics, the paper identifies...