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How large US banks manage climate-related financial risks

Author

Listed:
  • Fulvi, Chiara
  • Stiroh, Kevin

Abstract

US-based global systemically important banks (G-SIBs) remain focused on managing climate risks and are developing new ways of identifying and assessing such risks, even as they are publicly scaling back their net zero commitments and the US policy environment moves away from dedicated supervision of climate-related risks. It is vital to understand how banks are managing these risks and how disclosure can provide investors, counterparties and policymakers with decision-useful information. We examined the public disclosures of six large US banks to assess how they incorporate climate-related risk drivers into risk management practices and business strategies: Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo. All these banks have been designated as systemically important in the US.

Suggested Citation

  • Fulvi, Chiara & Stiroh, Kevin, 2026. "How large US banks manage climate-related financial risks," LSE Research Online Documents on Economics 140783, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:140783
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    File URL: https://researchonline.lse.ac.uk/id/eprint/140783/
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    More about this item

    JEL classification:

    • F3 - International Economics - - International Finance
    • G3 - Financial Economics - - Corporate Finance and Governance

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