Research Portal

Do banks fuel climate change?

Research output: Working paper

Standard Standard

Do banks fuel climate change? / Reghezza, Alessio; Rodríguez d’Acri, Costanza; Marques-Ibanez, David et al.
European Central Bank, 2021. (Working Paper Series ; No. 2550).

Research output: Working paper

HarvardHarvard

Reghezza, A, Rodríguez d’Acri, C, Marques-Ibanez, D & Spaggiari, M 2021 'Do banks fuel climate change?' Working Paper Series , no. 2550, European Central Bank. <https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2550~24c25d5791.en.pdf?e596fd59561e77340a4b6f4319dce966>

APA

Reghezza, A., Rodríguez d’Acri, C., Marques-Ibanez, D., & Spaggiari, M. (2021). Do banks fuel climate change? (Working Paper Series ; No. 2550). European Central Bank. https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2550~24c25d5791.en.pdf?e596fd59561e77340a4b6f4319dce966

CBE

Reghezza A, Rodríguez d’Acri C, Marques-Ibanez D, Spaggiari M. 2021. Do banks fuel climate change?. European Central Bank. (Working Paper Series ; 2550).

MLA

Reghezza, Alessio et al. Do banks fuel climate change?. Working Paper Series ; 2550. European Central Bank. 2021.,

VancouverVancouver

Reghezza A, Rodríguez d’Acri C, Marques-Ibanez D, Spaggiari M. Do banks fuel climate change? European Central Bank. 2021 May 14. (Working Paper Series ; 2550).

Author

Reghezza, Alessio ; Rodríguez d’Acri, Costanza ; Marques-Ibanez, David et al. / Do banks fuel climate change?. European Central Bank, 2021. (Working Paper Series ; 2550).

RIS

TY - UNPB

T1 - Do banks fuel climate change?

AU - Reghezza, Alessio

AU - Rodríguez d’Acri, Costanza

AU - Marques-Ibanez, David

AU - Spaggiari, Martina

PY - 2021/5/14

Y1 - 2021/5/14

N2 - Do climate-oriented regulatory policies affect the flow of credit towards polluting corporations? 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 the aftermath of President Trump’s 2017 announcement that the United States was withdrawing from the Paris Agreement, lending by European banks to polluting firms in the UnitedStates decreased even further in relative terms. It follows that green regulatory initiatives in banking can have a significant impact combating climate change.

AB - Do climate-oriented regulatory policies affect the flow of credit towards polluting corporations? 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 the aftermath of President Trump’s 2017 announcement that the United States was withdrawing from the Paris Agreement, lending by European banks to polluting firms in the UnitedStates decreased even further in relative terms. It follows that green regulatory initiatives in banking can have a significant impact combating climate change.

M3 - Working paper

T3 - Working Paper Series

BT - Do banks fuel climate change?

PB - European Central Bank

ER -