Environmental Hazards and Risk Management in the Financial Sector: A Systematic Literature Review
Journal
Journal of Economic Surveys
ISSN
0950-0804
Type
journal article
Date Issued
2021
Author(s)
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.
Language
English
HSG Classification
contribution to scientific community
HSG Profile Area
SOF - System-wide Risk in the Financial System
Refereed
Yes
Publisher
Blackwell Publishing Limited
Volume
35
Number
2
Start page
512
End page
538
Subject(s)
Division(s)
Eprints ID
262230
File(s)![Thumbnail Image]()
open.access
Name
joes.12411 (1).pdf
Size
619.28 KB
Format
Adobe PDF
Checksum (MD5)
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