Suchergebnisse

"Environmental risk directly affects the financial stability of banks since they bear the financial consequences of the loss of liquidity of the entities to which they lend, and of the financial penalties imposed resulting from the failure to comply with regulations, and for actions taken, which are harmful to the natural environment. This book explores the impact of environmental risk on the banking sector and analyzes strategies to mitigate this risk with a special emphasis on the role of modeling. It argues that environmental risk modeling allows banks to estimate the patterns and consequences of environmental risk on their operations, and to take measures within the context of asset and liability management to minimize the likelihood of losses. An important role here is played by the environmental risk modeling methodology, as well as the software and mathematical and econometric models used. It examines banks' responses to macroprudential risk, particularly from the point of view of their adaptation strategies, the mechanisms of its spread, risk management and modeling, and sustainable business models. It introduces the basic concepts, definitions and regulations concerning this type of risk, within the context of its influence on the banking industry. The book is primarily based on a quantitative and qualitative approach and proposes the delivery of a new methodology of environmental risk management and modelling in the banking sector. As such, it will appeal to researchers, scholars and students of environmental economics, finance and banking, sociology, law and political sciences"--

Intro -- Acknowledgements -- Praise for Financing Sustainable Development -- Contents -- Notes on Contributors -- List of Figures -- List of Tables -- Chapter 1: Introduction -- Chapter 2: Sustainability in Finance and Economics -- 1 Introduction -- 2 A Vision of Sustainable Finance -- 3 Challenges and Opportunities Encountered by the EU in the Elaboration of a Sustainable Funding Policy -- 4 The Role of the Financial System in the Transition to a Green Sustainable Economy -- 4.1 Sustainability and the Main Participants in the Financial System -- 4.2 The Banking Sector and the New Era for Sustainability -- 5 Sustainable Finance and Risk Management -- 5.1 Prudential Requirements for Banks and Insurance Companies -- 5.2 Sustainability Risks and the Surveillance Process -- 6 The Financial System in Romania in the New Sustainability Era -- 6.1 Particularities Regarding the Romanian Financial System -- 6.2 The Stability of the Financial System in Romania and Macroprudential Policies -- 6.3 Effects on the Romanian Financial System Caused by FinTech Development -- 7 Conclusions -- References -- Chapter 3: Sustainable Development Versus Green Banking: Where Is the Link? -- 1 Introduction -- 2 An Idea of Sustainable Development -- 3 Legal Environment for Creating Sustainable Development -- 4 Institutional Environment for Creating Sustainable Development -- 5 The Concept of Sustainable Finance -- 6 Green Banking -- 7 Conclusion -- References -- Chapter 4: Sustainability, Innovation, and Efficiency: A Key Relationship -- 1 Introduction -- 2 Sustainability -- 2.1 The Concept -- 2.2 The Neoclassical View -- 2.3 A Different Theoretical Approach to Sustainability -- 3 Policies for Sustainability: A Discussion -- 4 Conclusions -- References -- Chapter 5: Socially Responsible Financial Markets -- 1 Introduction -- 2 Sustainable Development and Finance.

The World Bank and International Monetary Fund reported that the achievement of the 17 Sustainable Development Goals (SDGs) requires an escalation of development finance. The report Scaling Finance for the Sustainable Development Goals highlighted the urgency of the efforts to realize SDGs in encouraging financial innovation to move quickly. Even if the role of finance in achieving SDGs is unquestionable, few scientific studies have addressed these issues. We tried to fill the existing research gap. In this study, we examined the link between sustainable finance and SDGs based on European Union countries belonging to the OECD. We present a new and the original research approach. We assumed that the sustainable finance model plays a fundamental role in implementing SDGs (all SDGs were analysed except for SDG 6 and SDG14, due to lack of statistics were not analysed) and ensuring that social and environmental sustainability are reflected in SDGs. The results of this study show that the more sustainable the finance model, the better the achievement of SDGs in the group of analysed countries. We found a strong link between sustainable finance model and social sustainability (SDG1, 3, 4, 5, 10, 16); environmental sustainability (SDG11, 12, 13, 15) and economic sustainability (SDG8, 9, 17). First published online 3 December 2020

Chapter1. Addressing the new global challenges and risks in financial market .-Chapter2. Interdependencies between sustainable financial market and sustainable business -- Chapter3. Corporate Sustainability and value creation. A perspective of companies and the financial market -- Chapter4. ESG risk in financial decisions of financial markets' and companies -- Chapter5. Analysing the links between financial markets' ESG risk assessment process and corporate sustainability -- Chapter6. Business models for sustainable value creation in companies and financial markets -- Chapter7. Sustainable adaptation of companies through financial markets.

The aim of this volume is to foster more sustainable business models through financial markets. To that end, it is necessary to know the main global challenges facing financial markets and their impact on creating sustainable value in business models of enterprises in the context of sustainable adaptation. The book focuses on assessing the decision criteria adopted by financial markets in the process of transaction risk valuation, in terms of the presence of Environmental, Social, and Governance (ESG) criteria, and by assessing the impact of including these criteria in the risk assessment process by financial markets in business decisions, leading as a consequence to building new value in the form of a sustainable business model. The book presents global ESG risks facing the financial markets, and discusses how ESG risks are managed and monitored, and how financial markets can measure and operationalize extra-financial risks in its assessment process. The book also analyses ESG risk implications and influences on company behavior, and the actions that companies should take considering the ESG assessment requirements of financial markets. Finally, it provides a comprehensive, structured, and systematic view of how financial markets and companies should adapt and improve their business models. The book provides unique challenges for investors, companies, financial markets, and for our society as a whole, advancing traditional risk management approaches to address global risks.

The aim of the article is to study ESG factors and the motives of including the ESG perspective by companies in their business models (BM). The 2-stage research procedure was used to analyse the problem: bibliographic research was carried out with the use of VOSviewer software. In the paper, 99 from 3000 publications were selected for in-depth analyses, and various types of correlation measures were selected, examining the strength and direction of the relationship between the variables included in two-way and multi-way frequency tables. Fourteen binary variables were constructed with two categories, "yes" and "no", which were assigned ranks 1 and 0, respectively. It turned out that there is a moderate (0.379) significant correlation between ESG factors and companies' business models. The environmental factor is most often emphasized in these models (0.308). In the SME sector, CSR (1.000 – full correlation) and ESG factors (0.471) are taken into account, with the strongest relationships between this sector and Government (0.615) and Social (0.549). The role of the financial market in supporting sustainability in companies' business models is growing and taking on importance. First published online 01 March 2022

Sustainability is a complex concept. It only can be achieved from a global perspective, where social, economic and environmental issues are all key factors for achieving the goal. This paper is focused on the importance of social sustainability and, as a consequence, the importance of avoiding each and everyone's risk of poverty and exclusion as due to the recent crisis effects. Nevertheless, this crisis resulted in higher inequalities and put a lot of people at risk of poverty, even in "developed" countries. Through a statistical and econometric analysis, some of the key factors to which the European Union should aim to avoid unsustainable scenarios are analysed. A regression, factorial and cluster analysis is carried out and this leads to conclude that the labour market is key in promoting economic policies in order to achieve social sustainability ; Research results presented in this paper are an element of research project implemented by the National Science Center Poland (Polskie Narodowe Centrum Nauki) under the grant OPUS13 no UMO-2017/25/B/HS4/02172

Purpose: This paper sets out to explore the relationships between a sustainable energy market and a sustainable financial market and energy market. The specific research objectives were: to explore whether sustainable finance only correlates with a sustainable energy market, or perhaps this relationship also exists with the traditional energy market, to identify the groups of countries for which there are correlations between the study categories. Design/Methodology/Approach: The empirical analysis is based on data from 2008, 2014, and 2018, as related to the energy market, sustainable energy, and sustainable finance for 28 European countries belonging to the OECD. A taxonomic development measure based on the reference method in the positional approach using the Weber median was used. Findings: The results confirmed the existence of a positive correlation between the energy market and the financial market in a sustainable approach. No such relationship was demonstrated for all three categories at the same time, i.e. energy market, sustainable energy market and sustainable finance. Practical Implications: This research is important for the policies of financial institutions and financial markets from the point of view of developing products and services for sustainable financing, so as to change the structure and improve the effects related to social responsibility (ESG risk reduction). Originality/value: This study examines whether relationships exist between a sustainable energy market and sustainable finance and the energy market in the traditional approach. ; peer-reviewed

[Abstract]: The goal of the paper is to examine the relation between finance and sustainability, with a special emphasis on the impact of negative externalities. Sustainable development as a concept aims to mitigate negative externalities. Conventional finance offers no room for the environment and society. Therefore, three-dimensional sustainable finance has appeared. This paper is the first original attempt to examine the relationship between: financial, economic, environmental and social development indicators from the sustainability perspective, with a special focus on externalities. To study the disparities between the European Union (EU) countries belonging to the OECD in the field of sustainable development and sustainable finance, the multi-criteria taxonomy was used. The basis of the analyses was the indicators transformed according to the relative taxonomy method. The database, based on Eurostat, contains indicators describing pillars of sustainable development such as: economic (12 indicators), social (28), environmental (7) and sustainable finance (16). The study analyses the sample of 23 countries in 2007, 2013 and 2016. The results confirm a positive relationship among the analysed indicators. On the basis of 62 statistical features selected according to the statistical methods, 7 groups of countries were obtained in 2007 and 2013 and 8 groups in 2016. In the case of Scandinavian countries, one can observe a permanent separation of economic growth from its negative impact on the natural environment. Such dependencies are no longer so obvious in the case of other EU countries belonging to the Organization for Economic Cooperation and Development (OECD). Therefore, attention should be paid to the most economically developed countries in Western rankings in the case of economic, social and very often also financial results correspond to much worse results in the case of environmental development.