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Scénarios climatiques en finance

Author

Listed:
  • Jean Boissinot
  • Thomas C. Heller

Abstract

Climate change and low carbon transition scenarios are becoming a usual feature in the financial sector. The use of scenarios is consistent with the nature of the phenomena considered (deep uncertainty). However, this use should be subject to reasoned thinking: scenario based approaches are fundamentally at odds with the probabilistic approach that underpins economics and finance. We discuss the use of scenarios for finance-driven purposes and examine three issues pertaining to ?green finance? (the use of ?normative? scenarios, the design of scenarios for stress tests and the development of scenarios suited for the needs of financial decision making). Classification JEL : B41, E58, Q54, Q58.

Suggested Citation

  • Jean Boissinot & Thomas C. Heller, 2020. "Scénarios climatiques en finance," Revue d'économie financière, Association d'économie financière, vol. 0(2), pages 55-68.
    • Handle: RePEc:cai:refaef:ecofi_138_0055
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    Citations

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    Cited by:

    1. William Oman & Romain Svartzman, 2021. "What Justifies Sustainable Finance Measures? Financial-Economic Interactions and Possible Implications for Policymakers," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 22(03), pages 03-11, May.

    More about this item

    JEL classification:

    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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