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Sustainable Banking

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  • De Haas, Ralph

Abstract

This paper reviews the literature on banks, climate change, and the global shift towards a low-carbon economy. It first examines the contribution of banks to climate change mitigation, with an emphasis on banks’ roles in financing green innovation and the diffusion of low-carbon technologies. The paper then reviews whether banks have begun to recalibrate their credit supply in response to the transition and physical risks of global warming. Here, the focus is on empirical work analysing how sea level rise and the increased frequency and intensity of hurricanes, floods, droughts, and wildfires are impacting banks’ balance sheets and operations. Last, the paper discusses several related topics: credit access and climate change adaptation; carbon arbitrage and greenwashing; and green financial regulation and credit guidelines. The paper concludes by sketching a few promising avenues for future research on sustainable banking.

Suggested Citation

  • De Haas, Ralph, 2023. "Sustainable Banking," CEPR Discussion Papers 18572, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:18572
    as

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    More about this item

    Keywords

    Climate finance; Climate change; Sustainable banking; Global warming;
    All these keywords.

    JEL classification:

    • F30 - International Economics - - International Finance - - - General
    • F64 - International Economics - - Economic Impacts of Globalization - - - Environment
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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