Environmental Hazards and Risk Management in the Financial Sector: A Systematic Literature Review
Series
School of Finance Working Paper Series
Type
working paper
Date Issued
2019-07-29
Author(s)
Abstract (De)
We conduct a systematic literature review on environmental and climate related risk management in the financial sector. The systematic literature review identified a total of 36 relevant articles. A formal coding leads to the aggregation and classification of papers to three main categories that consider the impact of environmental concerns on financial risk, the current state of environmental risk practices in the finance sector, and lastly measures to assess those risks within financial institutions. Our results put forward the risk reduction for financial institutions which highly commit with environmental responsibility and performance. More importantly, investors' increase in awareness and willingness to assess climate-related financial risk would incentivize corporate managers to adopt more proactive environmental policies and practices. These findings also allow for intriguing discussions about several alleys for future research.
Language
English
Keywords
Environment
Climate
Risk Management
Banking
Financial Institutions
HSG Classification
contribution to scientific community
HSG Profile Area
SOF - System-wide Risk in the Financial System
Publisher
SoF-HSG
Number
2019/10
Pages
50
Subject(s)
Division(s)
Eprints ID
257463
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19_10_Breitenstein et al_Environmental Hazards and Risk Management in the Financial Sector.pdf
Size
479.8 KB
Format
Adobe PDF
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