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A methodological framework and tool for assessing the climate change related risks in the banking sector

Author

Listed:
  • Elena Georgopoulou
  • Sebastian Mirasgedis
  • Yannis Sarafidis
  • Vassiliki Hontou
  • Nikos Gakis
  • Dimitri Lalas
  • Foteini Xenoyianni
  • Nikos Kakavoulis
  • Dimitris Dimopoulos
  • Vrassidas Zavras

Abstract

Although climate change risks have been studied for a number of economic sectors, banking has received relatively little attention. The paper proposes a methodology and an associated decision-support tool for quantifying, in monetary terms, the risks for banks from the exposure of their loan recipients and/or applicants to climate change. The framework and tool are applied to a case study based on input from a Greek bank; results indicate that climate change risks for banks are considerable, and thus decision makers need to estimate their magnitude and possibly consider these within the credit management process, and in environmental planning.

Suggested Citation

  • Elena Georgopoulou & Sebastian Mirasgedis & Yannis Sarafidis & Vassiliki Hontou & Nikos Gakis & Dimitri Lalas & Foteini Xenoyianni & Nikos Kakavoulis & Dimitris Dimopoulos & Vrassidas Zavras, 2015. "A methodological framework and tool for assessing the climate change related risks in the banking sector," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 58(5), pages 874-897, May.
    • Handle: RePEc:taf:jenpmg:v:58:y:2015:i:5:p:874-897
    DOI: 10.1080/09640568.2014.899489
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    Cited by:

    1. Miriam Breitenstein & Duc Khuong Nguyen & Thomas Walther, 2021. "Environmental Hazards And Risk Management In The Financial Sector: A Systematic Literature Review," Journal of Economic Surveys, Wiley Blackwell, vol. 35(2), pages 512-538, April.
    2. Hummel, Katrin & Laun, Ute & Krauss, Annette, 2021. "Management of environmental and social risks and topics in the banking sector - An empirical investigation," The British Accounting Review, Elsevier, vol. 53(1).
    3. Francisco Ascui & Theodor F. Cojoianu, 2019. "Implementing natural capital credit risk assessment in agricultural lending," Business Strategy and the Environment, Wiley Blackwell, vol. 28(6), pages 1234-1249, September.
    4. Mete Feridun & Hasan Güngör, 2020. "Climate-Related Prudential Risks in the Banking Sector: A Review of the Emerging Regulatory and Supervisory Practices," Sustainability, MDPI, vol. 12(13), pages 1-20, July.
    5. Jagdeep Kaur Brar & Antoine Kornprobst & Willard John Braun & Matthew Davison & Warren Hare, 2021. "A Case Study of the Impact of Climate Change on Agricultural Loan Credit Risk," Mathematics, MDPI, vol. 9(23), pages 1-23, November.
    6. Aldina Lopes Santos & Lúcia Lima Rodrigues, 2021. "Banks and Climate-Related Information: The Case of Portugal," Sustainability, MDPI, vol. 13(21), pages 1-20, November.

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