연구정보
[경제] Effect of Climate-Related Risk on the Pricing of Bank Loans: Evidence from Syndicated Loan Markets in Asia Pacific
동남아시아 일반 국외연구자료 연구보고서 - HKIMR 발간일 : 2021-11-15 등록일 : 2021-12-02 원문링크
Using a novel dataset that combines syndicated loans originated in the Asia Pacific markets with greenhouse gas emission intensity data of borrowers, this study examines whether and to what extent banks in the region have considered climate-related risk in their loan pricing decisions. Our results suggest that banks in the region started to price-in climate-related risk for loans to emissions-intensive sector since the Paris Agreement. This probably reflects their increased awareness of a climate-transition risk such firms face. In addition, banks’ environmental attitude is found to be one key factor in determining the extent of transition risk premium in loan pricing. In particular, more environmentally concerned banks (green banks) tend to charge a higher loan rate than their non-green counterparts when lending to the same “brown” firm in the post-Paris Agreement period.
본 페이지에 등재된 자료는 운영기관(KIEP) 및 EMERiCs의 공식적인 입장을 대변하고 있지 않습니다.
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