We examine how climate change affects bank fragility. We find both physical and transitional climate changes lead to substantial increase in systemic risk. The effect is more pronounced for banks with higher climate change exposure, higher loan portfolio synchronicity, and higher bank default...

The aim of this paper is to study the emergence of a new occupation globally. From 1999 to 2016, a global occupation of GHG accounting professionals emerged around the globe in all five continents, and both developed and developing countries. The individual GHG accounting professionals who we...

Governments, investors, and consumers have stepped up pressure on publicly listed companies to face up to climate risks and to reduce carbon emissions. At the same time, the pressure to deliver financial results remains strong. Based on research on 19 European carbon-intensive corporations in...

"High carbon model" a serious constraint on China's future development, "low carbon economy" will become an important breakthrough in China's construction of "ecological civilization." The carbon tax is important part of environmental tax, and environmental tax is also known as the ecological...

This paper provides an overview of current government schemes promoting corporate reporting of greenhouse gas (GHG) emissions and analyses their main building blocks. It describes the drivers and challenges for governments, companies and investors in dealing with GHG reporting and includes 4...

This paper uses a stylized simulation model to assess the potential impact of transition risk on banks' balance sheets and establishes a basis for calibrating relevant macro-prudential instruments. We show that even in the short run, a fire-sale mechanism could amplify an initially contained...

This paper proposes a quantitative multi-sector DSGE model with bank failure and firm default to study the interactions between bank regulation and climate policy. Households value the liquidity of deposits, which are protected by deposit insurance. Banks collect deposits and issue equity to...