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Do banks fuel climate change?

Research output: Contribution to journal › Article › peer-review

Standard Standard

Do banks fuel climate change? / Altunbas, Yener; Reghezza, Alessio; Marques-Ibanez, David et al.
In: Journal of Financial Stability, Vol. 62, 101049, 10.2022.

Research output: Contribution to journal › Article › peer-review

HarvardHarvard

Altunbas, Y, Reghezza, A, Marques-Ibanez, D, Rodríguez d’Acri, C & Spaggiari, M 2022, 'Do banks fuel climate change?', Journal of Financial Stability, vol. 62, 101049. https://doi.org/10.1016/j.jfs.2022.101049

APA

Altunbas, Y., Reghezza, A., Marques-Ibanez, D., Rodríguez d’Acri, C., & Spaggiari, M. (2022). Do banks fuel climate change? Journal of Financial Stability, 62, Article 101049. https://doi.org/10.1016/j.jfs.2022.101049

CBE

Altunbas Y, Reghezza A, Marques-Ibanez D, Rodríguez d’Acri C, Spaggiari M. 2022. Do banks fuel climate change?. Journal of Financial Stability. 62:Article 101049. https://doi.org/10.1016/j.jfs.2022.101049

MLA

Altunbas, Yener et al. "Do banks fuel climate change?". Journal of Financial Stability. 2022. 62. https://doi.org/10.1016/j.jfs.2022.101049

VancouverVancouver

Altunbas Y, Reghezza A, Marques-Ibanez D, Rodríguez d’Acri C, Spaggiari M. Do banks fuel climate change? Journal of Financial Stability. 2022 Oct;62:101049. Epub 2022 Jul 22. doi: 10.1016/j.jfs.2022.101049

Author

Altunbas, Yener ; Reghezza, Alessio ; Marques-Ibanez, David et al. / Do banks fuel climate change?. In: Journal of Financial Stability. 2022 ; Vol. 62.

RIS

TY - JOUR

T1 - Do banks fuel climate change?

AU - Altunbas, Yener

AU - Reghezza, Alessio

AU - Marques-Ibanez, David

AU - Rodríguez d’Acri, Costanza

AU - Spaggiari, Martina

PY - 2022/10

Y1 - 2022/10

N2 - Do climate-oriented regulatory policies affect the flow of credit towards polluting firms? We match loan-level data to firm-level greenhouse gas emissions to assess the impact of the Paris Agreement. We find that, following this agreement, European banks reallocated credit away from polluting firms in relative terms. Specifically, euro area banks’ loan share to more polluting firms decreased by about 3 percentage points compared to less polluting (or “green”) firms after the 2015 Paris Agreement (COP21). This result is stronger for banks that are well capitalized, have lower credit quality, and are less profitable.

AB - Do climate-oriented regulatory policies affect the flow of credit towards polluting firms? We match loan-level data to firm-level greenhouse gas emissions to assess the impact of the Paris Agreement. We find that, following this agreement, European banks reallocated credit away from polluting firms in relative terms. Specifically, euro area banks’ loan share to more polluting firms decreased by about 3 percentage points compared to less polluting (or “green”) firms after the 2015 Paris Agreement (COP21). This result is stronger for banks that are well capitalized, have lower credit quality, and are less profitable.

U2 - 10.1016/j.jfs.2022.101049

DO - 10.1016/j.jfs.2022.101049

M3 - Article

VL - 62

JO - Journal of Financial Stability

JF - Journal of Financial Stability

SN - 1572-3089

M1 - 101049

ER -