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What impact do high temperatures have on corporate lending?
[Températures élevées : quels effets sur le crédit aux entreprises ?]

Author

Listed:
  • Olivier de Bandt
  • Skander Maraoui

Abstract

High temperatures and a sustained rise in temperatures are not identical climate risks. Based on granular data on French SMEs, our study shows that both are accompanied by a slowdown in lending, particularly in the medium and long term, but that the impact varies in magnitude and according to region and sector. Les fortes chaleurs et la hausse durable des températures ne sont pas deux facettes identiques du risque climatique. À partir de données très fines sur les PME françaises, notre étude montre qu’elles s’accompagnent toutes deux d’un ralentissement du crédit, surtout à moyen et long terme, mais selon des dynamiques, des secteurs et des territoires différents.

Suggested Citation

  • Olivier de Bandt & Skander Maraoui, 2026. "What impact do high temperatures have on corporate lending? [Températures élevées : quels effets sur le crédit aux entreprises ?]," Eco Notepad 467, Banque de France.
    • Handle: RePEc:bfr:econot:467
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