Climate change is expected to have a dramatic impact on our environment over the next few decades – and quite possibly beyond. 从80年代开始, each decade has been warmer than the previous one and this trend is expected to continue. Climate change is no longer being considered primarily an environmental issue, but a multi-faceted source of economic and financial risks that could threaten the stability of the financial ecosystem.
我们新的白皮书， Climate-Related Financial Risk: A Financial Market Infrastructure’s Perspective, presents our thoughts on how climate-related financial risk applies to 存 and, 通过扩展, other Financial Market Infrastructures (FMIs) – and how the industry currently has the necessary resources to address these risks in a proactive manner.
气候变化:概览
Natural phenomena have an impact on the Earth’s climate; however, human activities have been the main driver of a global rise in average temperatures since the 1800s.
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化石燃料真相: Greenhouse gas emissions from human activities are the most significant driver of observed climate change since the mid-20th century. 化石燃料-煤, oil and gas – are by far the largest contributor to global climate change, accounting for more than 75% of GHG emissions and nearly 90% of all carbon dioxide (CO2) emissions.
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气候问题: 随着全球平均气温的升高, climate models indicate a rise in climate hazards including more severe storms, 增加了干旱, 海平面上升和生物多样性下降, 等.
与气候有关的物理风险
Damages caused by climate-related events have grown to about $133 billion per year in the U.S. 独自一人. Not taking any action to reduce the effects of climate change will likely lead to increased acute and chronic physical risks to the global economy.
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急性身体风险: The risks from economic costs or financial losses caused by the increasing severity and frequency of extreme weather events such as floods, 热带气旋, 热浪, 山体滑坡, 冰雹和野火.
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慢性身体风险: The risks from economic costs or financial losses caused by longer-term gradual climate shifts including rising sea levels, 土壤退化, 沙漠化, deforestation and other environmental changes to the ecosystem.
与气候相关的转型风险
There is already evidence that the market values of firms in some heavily polluting industries are being impacted by policy measures and market trends related to a transition to a low-carbon economy.
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转换风险: The risks from economic costs or financial losses caused by the process of adjusting towards a low-carbon economy may be unpredictable, 无序, 或者是破坏性的.
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关键因素: Transition risk is driven by several developments which have the potential to accelerate, slow or disrupt the transition path towards an economy that reduces the global greenhouse effect including changes in public sector policies and regulation, 技术和市场偏好.
对vnsr威尼斯城官网登入业的间接影响
While financial institutions and non-financial firms are directly exposed to climate-related financial risk, fmi只是间接暴露. This indirect exposure of FMIs to climate-related financial risk is well within the current boundaries of existing FMI risk management models because of two key reasons:
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业务连续性计划: While extreme weather events may trigger sudden shocks, FMIs have established robust business continuity programs that have proven that they can effectively mitigate this type of risk (i.e.(急性身体风险).
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长期的具体化: Even in worst-case projections, other types of risk (i.e., chronic physical risk and transition risk) are expected to materialize over a multi-year or multi-decade time horizon, which is significantly longer than the risk horizon that is utilized by FMIs.
我叫邦德，格林·邦德
绿色债券市场, which are fixed-income securities that raise capital to fund specific climate-related projects or other activities that promote environmental sustainability, 在过去的几年里增长了吗.
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维护稳定: Green bonds can play a significant role in contributing to the funding required to address the global challenges of climate change. 然而, for FMIs to continue safeguarding financial stability, it’s vital that they not be given preferential treatment if used for collateral purposes or in terms of how they are otherwise risk managed.
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冒泡结束: The creation of a potential “green bubble” is a potential unintended consequence of the success of green bonds that should be monitored as it might pose certain risks. The lack of standards around green bonds may be another problematic area.
The climatic changes we have witnessed so far will likely be eclipsed by far more dramatic environmental shifts in the years and decades to come. 像这样, it is encouraging to see growing levels of public awareness and debate around climate-related issues. As much as our systemic risk white papers serve to articulate our views on important topics, 他们的首要目标是促进对话. 像这样, we encourage you to share your comments and feedback with us.