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Assessing nature-related risks in the Hungarian financial system: Charting the impact of nature's financial echo

Author

Listed:
  • Riccardo Boffo
  • Hugh Miller
  • Gabriel Santos Carneiro
  • Gürcan Zeren Gülersoy

Abstract

This paper presents a technical assessment of nature-related risks within the Hungarian economy and financial system. The study draws upon the OECD Supervisory Framework to (i) prioritise various nature-related risks by conducting an impact and dependency assessment, identifying key economic sectors, and pinpointing the critical natural capital assets that are most crucial to the financial system; (ii) assess the direct and indirect economic impact of three exploratory scenarios on possible acute nature-related shocks using input-output analysis; (iii) explore the different financial risk channels through which economic risks stemming from nature-related losses may be transmitted within the Hungarian financial system; and (iv) provide supervisory recommendations based on the results.

Suggested Citation

  • Riccardo Boffo & Hugh Miller & Gabriel Santos Carneiro & Gürcan Zeren Gülersoy, 2024. "Assessing nature-related risks in the Hungarian financial system: Charting the impact of nature's financial echo," OECD Environment Working Papers 243, OECD Publishing.
    • Handle: RePEc:oec:envaaa:243-en
    DOI: 10.1787/24fd70e3-en
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    More about this item

    Keywords

    biodiversity; economics; finance and investment; financial materiality; nature; nature-related risks;
    All these keywords.

    JEL classification:

    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General

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