Based on the data from 35 listed banks in China during Q12011-Q42021,this paper empirically analyzes the impact of climate and environmental changes on banks'systemic risk.It is found that both extreme climate and air pollu-tion significantly increase bank systemic risk.Climate and environmental changes affect bank systemic risk mainly through information and capital channels.The increase in banks'capital adequacy ratio and the rise in climate policy uncertainty are conducive to mitigating the adverse impacts of climate and environmental changes on banks'systemic risk;climate and environmental changes have heterogeneous impacts on the systemic risk of different types of banks.
关键词
气候和环境变化/商业银行/系统性风险
Key words
climate and environmental change/commercial banks/systemic risk
万方数据