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Finance and Climate Change Risk: Managing Expectations

Author

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  • Claudio Borio
  • Stijn Claessens
  • Nikola Tarashev

Abstract

The financial sector has a key role to play in supporting the green transition It is unrealistic to expect financial markets to induce the green transition unless the right signals come from the real economy Unrealistic expectations can set the financial sector up for failure and derail the green transition Risks to financial stability stem from exposure to overvalued emission-intensive assets, but also to overvalued “green” assets or assets that purport to be green

Suggested Citation

  • Claudio Borio & Stijn Claessens & Nikola Tarashev, 2023. "Finance and Climate Change Risk: Managing Expectations," EconPol Forum, CESifo, vol. 24(01), pages 5-7, January.
    • Handle: RePEc:ces:epofor:v:24:y:2023:i:01:p:5-7
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    File URL: https://www.cesifo.org/DocDL/econpol-forum-2023-1-borio-claessens-tarashev-finance-climate-changerisk.pdf
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    Cited by:

    1. Tristan Jourde & Kolotcholoma Kone, 2023. "The exposure of French investment funds to transition climate risks [L’exposition des fonds d’investissement français aux risques climatiques de transition]," Bulletin de la Banque de France, Banque de France, issue 248.
    2. Tristan Jourde & Arthur Stalla-Bourdillon, 2024. "PEnvironmental Preferences and Sector Valuations," Working papers 964, Banque de France.
    3. Gian Luca Vriz & Luigi Grossi, 2024. "Green bubbles: a four-stage paradigm for detection and propagation," Papers 2410.06564, arXiv.org.

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