气候变化领域集成服务门户(CCPortal): Banks' environmental policies and banks' financial stability

CCPortal

DOI	10.1016/j.intfin.2023.101927
	Banks' environmental policies and banks' financial stability
	Chiaramonte, Laura; Dreassi, Alberto; Goodell, John W.; Paltrinieri, Andrea; Pisera, Stefano
发表日期	2024
ISSN	1042-4431
EISSN	1873-0612
起始页码	91
卷号	91
英文摘要	We study whether environmental engagement of banks mitigates the effects of natural disasters and climate-change related events on financial stability. Employing an extensive global dataset with quarterly data (2003-2019; 5,317 observations), our analysis reveals that environmental innovation financing, product responsibility, and resource reduction policies are able to curtail the repercussions on stability of economic costs due to environmental events. We also find that the lending function of banks is a relevant mediating channel for this relationship. Since borrowers' vulnerability to climate issues may be reflected in non-performing loans, banks' environmental engagement provides protection against future related credit losses. Moreover, by capitalizing on global disasters as quasi-natural experiments, we provide empirical evidence confirming that a stronger environmental engagement of banks enhances their post-event financial resilience. Taken together, our results convey several key implications: i) bank executives can improve financial stability by embracing environmental policies, ii) stronger regulatory actions towards environmental sensitivity in the banking sector is supported, and iii) environmentally engaged banking systems can mitigate the economic costs associated with climate change and environmental disasters.
英文关键词	Bank stability; Climate change; Natural disasters; Sustainability
语种	英语
WOS研究方向	Business & Economics
WOS类目	Business, Finance ; Economics
WOS记录号	WOS:001163573200001
来源期刊	JOURNAL OF INTERNATIONAL FINANCIAL MARKETS INSTITUTIONS & MONEY
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/307079
作者单位	University of Verona; University of Trieste; University System of Ohio; University of Akron; Catholic University of the Sacred Heart; University of Genoa
推荐引用方式 GB/T 7714	Chiaramonte, Laura,Dreassi, Alberto,Goodell, John W.,et al. Banks' environmental policies and banks' financial stability[J],2024,91.
APA	Chiaramonte, Laura,Dreassi, Alberto,Goodell, John W.,Paltrinieri, Andrea,&Pisera, Stefano.(2024).Banks' environmental policies and banks' financial stability.JOURNAL OF INTERNATIONAL FINANCIAL MARKETS INSTITUTIONS & MONEY,91.
MLA	Chiaramonte, Laura,et al."Banks' environmental policies and banks' financial stability".JOURNAL OF INTERNATIONAL FINANCIAL MARKETS INSTITUTIONS & MONEY 91(2024).