An estimate is made of the specific risk to the fossil fuel sector from wind and solar generation and from electric vehicles. The systemic risk to investment portfolios from climate change is then analysed

The urgency of estimating the impact of climate risks on the financial system is increasingly recognized among scholars and practitioners. By adopting a network approach to financial dependencies, we look at how climate policy risk might propagate through the financial system. We develop a...

In this paper we investigate how financial system stability, assessed through market-based systemic risk measures (SRMs), relates to climate-induced catastrophes and to the structural change caused by the low-carbon transition. We first detect whether, to what extent and how quickly SRMs of the...

Our study aims to gain insight on financial stability and climate transition risk. We develop a methodological framework that captures the direct effects of a stressful climate transition shock as well as the indirect - or systemic - implications of these direct effects. We apply this framework...

This study analyses the potential impact of climate change on EU tourism demand and provides long-term (2100) scenarios accounting for adaptation in terms of holiday duration. Our long-term projections for tourism demand are based on hedonic valuation of climatic conditions combining hotel price...