文献类型：期刊文献

英文题名：Stress testing climate risk: A network-based analysis of the Chinese banking system

作者：Xu, Hai-Chuan[1];Li, Tai-Min[2];Dai, Peng-Fei[3];Nguyen, Duc Khuong[4];Zhou, Wei-Xing[1]

机构：[1]East China Univ Sci & Technol, Sch Business, Shanghai 200237, Peoples R China;[2]East China Normal Univ, Sch Econ & Management, Shanghai 200062, Peoples R China;[3]Wuhan Univ Technol, Sch Management, Wuhan 430070, Peoples R China;[4]Leonard Vinci Pole Univ, De Vinci Res Ctr, Paris, France

年份：2024

卷号：149

外文期刊名：JOURNAL OF INTERNATIONAL MONEY AND FINANCE

收录：;WOS:【SSCI(收录号:WOS:001339619200001)】；

语种：英文

外文关键词：Systemic risk; Climate policy; Network model; Macroprudential stress testing

摘要：Assessing the impact of climate risks on the financial system is one of the most urgent issues currently. We build a network-based climate risk model to explain how a shock from climate policies translates into shocks in the banking system. Then, we conduct macroprudential stress tests on the Chinese banking system under various climate policy scenarios. We show that under the policy target of peaking the carbon in 2030 and CO2 concentration no more than 500 ppm in 2100, individual banks in China will face equity losses ranging from 1.93% to 14.03%, equivalent to an overall loss of 6.94% in 2025. When considering the electric power sector's adoption of green energy technologies, the adverse effects will be slightly mitigated. Our stress tests suggest that the implementation of climate policies should be gradual and consider potential economic impacts so that climate goals can be achieved without undue shocks to the economy.