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Possible Real Economic Consequences of Financial Actors’ Attitudes Towards Climate Change and Realized Risks

Málits, Péter, El-Meouch, Nedim Márton and Drabancz, Áron István (2022) Possible Real Economic Consequences of Financial Actors’ Attitudes Towards Climate Change and Realized Risks. Public Finance Quarterly, 67 (3). pp. 430-447. DOI https://doi.org/10.35551/PFQ_2022_3_7

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Official URL: https://doi.org/10.35551/PFQ_2022_3_7


Abstract

The effects of climate change on the real economy are also reflected in the financial system. In this study, we examine the attitudes of key players in the financial system (central and commercial banks) towards the financial risks of climate change, based on the literature in the field. The key players in the financial system, the climate change-specific relationships of the corporate sector and the main channels connecting them are illustrated using a corporate project evaluation model, partly assessing which variables and risks a company should consider when making an investment decision. The results show that climate change can affect the performance of financial institutions in a number of ways, but these risks cannot yet be clearly identified in Hungarian interest rate spreads.

Item Type:Article
Uncontrolled Keywords:climate change, financial institutions, interest rate spread
JEL classification:H43 - Project Evaluation; Social Discount Rate
Q56 - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
Divisions:Corvinus Doctoral Schools
Subjects:Environmental economics
Finance
Funders:Ministry of Innovation and Technology, Doctoral Programme of the National Research, Development and Innovation
DOI:https://doi.org/10.35551/PFQ_2022_3_7
ID Code:7744
Deposited By: Ádám Hoffmann
Deposited On:29 Nov 2022 10:46
Last Modified:29 Nov 2022 10:46

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