Nos derniers articles

"We summarize core features of a capital regime such as expected and unexpected losses, regulatory ratios and risk-weighted assets, and minimum requirements and buffers, and then consider where climate-related risk drivers may be relevant."

"... ESG, properly understood, is merely a collection of quite disparate risks that corporations face, from climate change to human capital to diversity to relations among the board, management, shareholders, and other stakeholders."

"... we characterize Pareto-optimal risk-sharing contracts in a market with multiple policyholders and one representative insurer. With minimal assumptions on the risk measures of the parties involved, we characterize Pareto optimality in terms of the minimization of a sum of the agents' risk positions, and we relate it to both the core and coalitional stability of an associated market game. In the special case of coherent risk measures, the optimal indemnity schedules are further characterized in explicit form, in terms of what can be called "worst-case probability measures". "

"We model a setting where a firm must choose when to adapt to climate-induced resource scarcity based on objective expectations of climate change (climate projections), and is influenced by both risk (annual variability in climate projections) and ambiguity (inability to assign probabilities to various climate projections)."

"... as liquidity providers, well-capitalized banks support economic adaptation to climate change."

"... climate change may drive operational risk losses through complex interactions between three factors: changes in human and institutional behaviors, significant and rapid changes in economic metrics and direct physical impacts."

"Regulators can ... facilitate the reorientation of financial flows necessary for the transition. But their powers should not be overestimated. Their diagnostic and policy toolkits are still in their infancy."