Climate change: the impacts on financial intermediaries and their role in low-carbon transition
September 2020 was the warmest month on record worldwide. For the first time in recorded history, the main nursery of Arctic sea ice has failed to freeze by late October. In recent years alone, we observed several global climate change-induced events, having far-reaching effects on livelihoods and i...
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| Other Authors: | , |
| Format: | Book Part |
| Language: | English |
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2020
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| Online Access: | http://hdl.handle.net/11573/1527851 |
| Summary: | September 2020 was the warmest month on record worldwide. For the first time in recorded history, the main nursery of Arctic sea ice has failed to freeze by late October. In recent years alone, we observed several global climate change-induced events, having far-reaching effects on livelihoods and inflicting vast economic damages. As we approach the fifth anniversary of the Paris Agreement, it becomes clear that reaching the goals set in the Agreement requires an unprecedented financial support from financial institutions worldwide to help private companies shift their business mindset to more sustainable. This article examines the potential impacts of climate change on financial intermediaries and their role in the transition to a low- carbon economy. It focuses on the effects of climate change and climate-related risks on the banking lending process and the investment process within the asset management industry. |
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