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Author(s): Paul Hiebert

Climate change will unevenly impact the European financial system

Source(s): VOXEU/ CEPR
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Climate change will impact those parts of the financial system most exposed to its disruptive effects. This column analyses a new financial stability risk mapping for the EU financial system, linking financial exposures of thousands of banks, insurance companies, and investment funds to millions of firms subject to climate risk. It highlights a high level of risk concentration, both in European regions subject to climate hazards as well as economic sectors with diverse carbon emission intensities. Long-term scenario analyses suggest that the risks will be best addressed through proactive policies that directly contain global temperature rises.

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Themes Climate change Governance Private sector
Country and region Algeria

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