Policymakers have put forward proposals to ensure that banks do not underestimate long-
term risks from climate change. To examine how lenders account for extreme weather, we …

We examine the relative riskiness of residential mortgages depending on the energy
efficiency of the underlying property. Using a unique micro-level dataset in the UK, our …

We examine a unique micro-level data set on residential mortgages in the United Kingdom.
Our analyses suggest that mortgages against energy-efficient properties are less frequently …