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The Sustainability–Financial Risk Nexus

In: Sustainability and Financial Risks

Author

Listed:
  • Marco Migliorelli

    (IAE Université Paris 1 Panthéon-Sorbonne (Sorbonne Business School)
    European Commission)

Abstract

This chapter gives an overview of the relationship nowadays linking sustainability-related risks (stemming from climate change, environmental degradation, social inequality, policy and technology shifts) and financial risks. Two main conclusions highlight the importance of this nexus. First, the expected consolidation of sustainability-related risks in the near future has the potential to produce a widespread impact on the financial results of both banks and insurance companies. Second, the full consideration by financial actors of sustainability-related risks may lead in some geographical areas and for some economic sectors to significant pricing adjustments and to new market failures (in terms of credit cutbacks and non-insurability of risks). The chapter concludes by proposing a structured taxonomy systematically linking sustainability-related risks and financial risks.

Suggested Citation

  • Marco Migliorelli, 2020. "The Sustainability–Financial Risk Nexus," Palgrave Studies in Impact Finance, in: Marco Migliorelli & Philippe Dessertine (ed.), Sustainability and Financial Risks, chapter 0, pages 1-29, Palgrave Macmillan.
    • Handle: RePEc:pal:psifcp:978-3-030-54530-7_1
    DOI: 10.1007/978-3-030-54530-7_1
    as

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