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Climate stress tests: Are banks fit for the green transition?

12. Januar 2023
Climate stress tests have emerged as a key tool for looking into the financial system’s vulnerability to climate risks. Banks’ exposure to climate risks stems from (1) physical risks that are closely related to geography, and (2) transition risks mainly from loans to carbon-intensive sectors. Exercises by the ECB and BoE suggest that banks’ credit losses in a disorderly transition would be higher than in an orderly transition scenario, and even higher in a “hot house world” with unabated global warming. Banks would be able to absorb climate-related losses due to strong capital buffers. Results are subject to data limitations and modelling constraints. So far, climate stress tests are declared learning exercises with no direct implications for capital requirements. However, supervisors are urging banks to set up a comprehensive climate risk management. [mehr]

Weitere Dokumente zum Thema "Nachhaltigkeit"

57 (25-36)
2. November 2021
Governments from around the world will parade their climate credentials at the COP26 summit ... but when the dust has settled, much of the pressure to implement their plans will be delegated to corporates. Post-COP, firms will be pushed via policy or social pressure to spend more to mitigate climate change. The cost may be high but proactive firms are already being rewarded by customers and investors. Those that delay may face penalties. [mehr]
28. September 2021
With demand for ESG products & solutions remaining strong, and asset managers advancing their ESG capabilities, we see asset managers bolstering their dedicated ESG product line-ups at an accelerating pace. We recently caught up with management teams across our coverage of US based traditional asset managers about their recent & planned ESG product launches, perspectives on client demand, as well as their current range of ESG products. [mehr]
8. September 2021
Due to the continuing shortage of semiconductors, 2021 will be another weak year for Germany as an automotive location. Although the current economic and supply crisis may have reached its low point, a return to earlier highs is unlikely – even in the medium term. By contrast, German auto manufacturers are reporting positive results and gaining share in important markets. The discrepancy between Germany as an automotive location and the German auto industry is becoming apparent. [mehr]
7. September 2021
Liam Fitzpatrick, European Head of Metals and Mining Research interviews Anna Krutikov, Glencore's Head of Sustainability. Climate ambition is increasing rapidly at a global level and investors are demanding that large corporates, such as Glencore, align strategies with the goals of the Paris Agreement and take the necessary action on reducing emissions. [mehr]
1. September 2021
Strom aus erneuerbaren Energien soll künftig möglichst große Teile der Volkswirtschaft mit Energie versorgen. Auf Unternehmen und private Haushalte kommen zunächst hohe Kosten zu, denn es bedarf einer Umrüstung der bestehenden Infrastrukturen. Zugleich haben Unternehmen und Verbraucher in den letzten Jahren die Erfahrung gemacht, dass der Strompreis tendenziell stärker gestiegen ist also etwa die Preise für Benzin, Diesel, Erdgas oder Heizöl. Die Politik sollte daher die staatlichen Komponenten des Strompreises möglichst schnell zurückfahren. Dies wäre sozialpolitisch vorteilhaft. Es würde zudem den Industriestandort Deutschland stärken, der bereits erheblich unter dem strompreisbedingten Wettbewerbsnachteil leidet. [mehr]
10. August 2021
Demand for electric vehicles has recently surged. Two key drivers are behind this gain in market share: Tight caps on vehicle CO2 emissions combined with the classification of electric cars as zero-emission vehicles and subsidies to buyers of electric cars. The transition to e-mobility helps to protect the climate. The contribution to climate protection will rise over time due to technological progress and scale effects in production. However, it is small and expensive for now. For every one million electric cars sold in Germany in the next few years, the total fiscal effect amounts to at least EUR 15 bn over the twelve years after the sale. Carbon abatement costs may amount to more than EUR 1,000 per ton. The current regulatory regime is obviously neither efficient from an economic vantage point nor effective in environmental protection terms. [mehr]
5. August 2021
Die Nachfrage nach Elektroautos ist zuletzt signifikant gestiegen. Zwei wesentliche Treiber sind für den Marktanteilsgewinn maßgeblich: strenge CO2-Grenzwerte für Pkw in der EU kombiniert mit der regulatorischen Einstufung von Elektroautos als Null-Emissionsfahrzeuge sowie hohe staatliche Förderungen für den Kauf von Elektroautos. Der Umstieg auf Elektromobilität leistet einen Beitrag für den Klimaschutz, der durch technischen Fortschritt und Größenvorteile in der Produktion künftig noch größer werden wird. Vorerst ist der Klimaeffekt aber noch klein und teuer erkauft. Die CO2-Vermeidungskosten können die Schwelle von EUR 1.000 pro Tonne übersteigen; im Emissionshandel liegen sie lediglich bei gut EUR 50 pro Tonne. Damit genügt das aktuelle regulatorische Förderregime nicht den Kriterien der ökonomischen Effizienz und der ökologischen Effektivität. [mehr]