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Possible Real Economic Consequences of Financial Actors’ Attitudes Towards Climate Change and Realized Risks

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  • Málits, Péter
  • El-Meouch, Nedim Márton
  • Drabancz, Áron István

Abstract

The effects of climate change on the real economy are also reflected in the financial system. In this study, we examine the attitudes of key players in the financial system (central and commercial banks) towards the financial risks of climate change, based on the literature in the field. The key players in the financial system, the climate change-specific relationships of the corporate sector and the main channels connecting them are illustrated using a corporate project evaluation model, partly assessing which variables and risks a company should consider when making an investment decision. The results show that climate change can affect the performance of financial institutions in a number of ways, but these risks cannot yet be clearly identified in Hungarian interest rate spreads.

Suggested Citation

  • Málits, Péter & El-Meouch, Nedim Márton & Drabancz, Áron István, 2022. "Possible Real Economic Consequences of Financial Actors’ Attitudes Towards Climate Change and Realized Risks," Public Finance Quarterly, Corvinus University of Budapest, vol. 67(3), pages 430-447.
    • Handle: RePEc:pfq:journl:v:67:y:2022:i:3:p:430-447
    DOI: 10.35551/PFQ_2022_3_7
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    JEL classification:

    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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