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Climate Interconnectedness and Financial Stability

Author

Listed:
  • Miia Chabot

    (ESSCA - Ecole Supérieure des Sciences Commerciales d'Angers)

  • Jean-Louis Bertrand

    (ESSCA - Ecole Supérieure des Sciences Commerciales d'Angers)

  • Valentin Courquin

    (LAMPA - Laboratoire Angevin de Mécanique, Procédés et InnovAtion - Arts et Métiers Sciences et Technologies - HESAM - HESAM Université - Communauté d'universités et d'établissements Hautes écoles Sorbonne Arts et métiers université)

Abstract

Climate risks directly affect a wide range of non-financial firms, and indirectly affect the financial institutions that lend to or invest in them. In this paper, we explore the influence of climate risks on financial stability of European financial institutions using network analysis and panel regressions. The determination of interconnectedness variables and the graphical representations of climate networks allow the identification of climate systemic important financial institutions and risk concentrations. Our work contributes to the development of new macroprudential metrics to capture climate risks and address climate-related risk from a systemic perspective.

Suggested Citation

  • Miia Chabot & Jean-Louis Bertrand & Valentin Courquin, 2023. "Climate Interconnectedness and Financial Stability," Post-Print hal-04390905, HAL.
    • Handle: RePEc:hal:journl:hal-04390905
    DOI: 10.3917/fina.pr.024
    Note: View the original document on HAL open archive server: https://hal.science/hal-04390905
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    Cited by:

    1. Chabot, Miia & Bertrand, Jean-Louis, 2023. "Climate risks and financial stability: Evidence from the European financial system," Journal of Financial Stability, Elsevier, vol. 69(C).

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