Environmental Hazards and Risk Management in the Financial Sector: A Systematic Literature Review

Item Type Journal paper
Abstract We conduct a systematic literature review on environmental and climate‐related risk management in the financial sector. We classify the current literature into three categories: (i) the impact of environmental concerns on financial risk; (ii) the current state of environmental risk practices in the financial sector; and (iii) measures to assess the financial exposure to environmental risks. We find that financial institutions can reduce their risk exposure by highly committing with environmental responsibility and performance. Moreover, the increase in willingness to assess climate‐related financial risk incentivizes corporate managers to adopt more proactive environmental policies and practices.
Authors Breitenstein, Miriam; Nguyen, Duc Khuong & Walther, Thomas
Journal or Publication Title Journal of Economic Surveys
Language English
Subjects business studies
economics
finance
HSG Classification contribution to scientific community
HSG Profile Area SOF - System-wide Risk in the Financial System
Refereed Yes
Date 2021
Publisher Blackwell Publishing Limited
Volume 35
Number 2
Page Range 512-538
ISSN 0950-0804
Publisher DOI https://doi.org/10.1111/joes.12411
Official URL https://onlinelibrary.wiley.com/doi/10.1111/joes.1...
Depositing User Prof. Dr. Thomas Walther
Date Deposited 02 Feb 2021 10:11
Last Modified 29 Sep 2022 00:31
URI: https://www.alexandria.unisg.ch/publications/262230

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Citation

Breitenstein, Miriam; Nguyen, Duc Khuong & Walther, Thomas (2021) Environmental Hazards and Risk Management in the Financial Sector: A Systematic Literature Review. Journal of Economic Surveys, 35 (2). 512-538. ISSN 0950-0804

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https://www.alexandria.unisg.ch/id/eprint/262230
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