Major Climate Policy Enactments Increase the Urgency of Managing Climate-Related Risk at Banks
Vol: 9, Issue: 2
2024
- 83Usage
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Example: if you select the 1-year option for an article published in 2019 and a metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019. If you select the 3-year option for the same article published in 2019 and the metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019, 2018 and 2017.
Citation Benchmarking is provided by Scopus and SciVal and is different from the metrics context provided by PlumX Metrics.
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- Usage83
- Downloads48
- Abstract Views35
Article Description
In late 2022, Congress and the state of California enacted a set of sweeping policies expected to hasten the shift to clean energy dramatically in the coming years. These policies will reduce long-term physical risk to banks and the financial system from climate change. At the same time, they may dramatically increase nearer-term risks to banks that are underprepared for the economic transition to clean energy. This Essay sketches the likely implications of these new policies for banks’ transition risk and recommends responses for bank regulators.
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