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An estimation of the carbon footprint in spanish credit institutions’ business lending portfolio

Author

Listed:
  • Luis Ángel Maza

    (Banco de España)

Abstract

This paper proposes an indicator to estimate the carbon footprint of the business lending of Spanish credit institutions. The growing interest in our societies in environmental issues means that the action taken by financial institutions to support the fight against climate change and the green transition needs to be analysed. In this respect, it is essential to have quality environmental information available and to establish robust methodologies to assess the climate exposure of the financial sector. This paper seeks to contribute to this debate, offering an experimental statistic to measure the degree of exposure of the banking sector in Spain to the risks involved in the transition to a more sustainable economic model. The results obtained show that the carbon footprint of the loans of Spanish credit institutions seems to have been significantly reduced recently. This decline is compatible with the overall reduction in the intensity of pollutant emissions that has taken place in the Spanish economy in recent years, but also with a slight shift in the composition of the loan portfolio towards less polluting activities.

Suggested Citation

  • Luis Ángel Maza, 2022. "An estimation of the carbon footprint in spanish credit institutions’ business lending portfolio," Occasional Papers 2220, Banco de España.
    • Handle: RePEc:bde:opaper:2220e
    as

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    File URL: https://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosOcasionales/22/Files/do2220e.pdf
    File Function: First version, March 2022
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    File URL: https://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosOcasionales/22/Fich/do2220.pdf
    File Function: Spanish version
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    References listed on IDEAS

    as
    1. Ángel Estrada & Daniel Santabárbara, 2021. "Recycling carbon tax revenues in Spain. Environmental and economic assessment of selected green reforms," Working Papers 2119, Banco de España.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    climate change; carbon footprint; financial risks;
    All these keywords.

    JEL classification:

    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General
    • 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
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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