The financial risks and potential systemic impacts induced by climate change and the
transition to a low‐carbon economy have become a central issue for both financial investors …

Climate-related financial risks (CRFR) are now recognised by central banks and supervisors
as material to their financial stability mandates. But while CRFR are considered to have …

We analyze the effects on financial stability of the interplay between climate transition risk
and market conditions, such as recovery rate and asset price volatility. To this end, we …

Climate change has profound effects not only on societies and economies, but also for the
ability of central banks to deliver price stability in the future. Among others, climate change …

Climate change poses an important policy challenge for governments around the world. The
challenge is made all that much more difficult because of the multitude of potential …

This article studies how institutional dynamics might affect and be affected by the
implementation of climate-related financial policies. First, we propose a three-dimensional …

Climate change and the transition to a low-carbon economy involve the financial system in
two ways. First, because it channels the funds needed to make the large investments to …

This paper explores how climate change and the transition to a low-carbon economy pose
new systemic financial risks (so-called Green Swans), and the role of central banks in …

All G20 countries have adopted policies to tame financial instability in response to the
COVID-19 pandemic. Post-pandemic financial measures are designed to support bank …

A timely low-carbon transition will require a significant decline in fossil fuel production and
consumption. This in turn exposes the rest of economic sectors to the risk of reduced …