Causal Relationship Between Climate and Financial Sector: A Systematic Literature Review and Policy Recommendations

Palvinder Kaur; Manminder Kaur

doi:doi:10.11648/j.ijebo.20231102.15

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Causal Relationship Between Climate and Financial Sector: A Systematic Literature Review and Policy Recommendations

Palvinder Kaur, Manminder Kaur

Published in International Journal of Economic Behavior and Organization (Volume 11, Issue 2)

Received: 3 May 2023 Accepted: 25 May 2023 Published: 5 June 2023

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Abstract

The purpose of this article is to give a brief overview of what economists have attempted to study concerning climate change. Climate change and the financial system must be understood holistically. Our awareness of the immediate effects of climate disasters is also crucial, even though most studies focus on distant effects. We will examine the climate change relationship with financial system, and will discuss strategies that the financial sector could possibly implement for addressing climate change. This study identifies the causal relationships between the financial system and climate change, including adaptation and mitigation in the short period and concentrates on three specific areas, including bank behavior, asset prices, and insurance and, thus, it is found that both climate change and the financial sector are deeply entwined. As a result, this study aims to investigate the interactions and to make recommendations for policy makers.

Published in	International Journal of Economic Behavior and Organization (Volume 11, Issue 2)
DOI	10.11648/j.ijebo.20231102.15
Page(s)	80-95
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2023. Published by Science Publishing Group

Keywords

Climate Change, Greenhouse Gases, Financial Market, Stocks, Asset Price, Insurance

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Palvinder Kaur, Manminder Kaur. (2023). Causal Relationship Between Climate and Financial Sector: A Systematic Literature Review and Policy Recommendations. International Journal of Economic Behavior and Organization, 11(2), 80-95. https://doi.org/10.11648/j.ijebo.20231102.15

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Palvinder Kaur; Manminder Kaur. Causal Relationship Between Climate and Financial Sector: A Systematic Literature Review and Policy Recommendations. Int. J. Econ. Behav. Organ. 2023, 11(2), 80-95. doi: 10.11648/j.ijebo.20231102.15

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Palvinder Kaur, Manminder Kaur. Causal Relationship Between Climate and Financial Sector: A Systematic Literature Review and Policy Recommendations. Int J Econ Behav Organ. 2023;11(2):80-95. doi: 10.11648/j.ijebo.20231102.15

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@article{10.11648/j.ijebo.20231102.15,
  author = {Palvinder Kaur and Manminder Kaur},
  title = {Causal Relationship Between Climate and Financial Sector: A Systematic Literature Review and Policy Recommendations},
  journal = {International Journal of Economic Behavior and Organization},
  volume = {11},
  number = {2},
  pages = {80-95},
  doi = {10.11648/j.ijebo.20231102.15},
  url = {https://doi.org/10.11648/j.ijebo.20231102.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijebo.20231102.15},
  abstract = {The purpose of this article is to give a brief overview of what economists have attempted to study concerning climate change. Climate change and the financial system must be understood holistically. Our awareness of the immediate effects of climate disasters is also crucial, even though most studies focus on distant effects. We will examine the climate change relationship with financial system, and will discuss strategies that the financial sector could possibly implement for addressing climate change. This study identifies the causal relationships between the financial system and climate change, including adaptation and mitigation in the short period and concentrates on three specific areas, including bank behavior, asset prices, and insurance and, thus, it is found that both climate change and the financial sector are deeply entwined. As a result, this study aims to investigate the interactions and to make recommendations for policy makers.},
 year = {2023}
}

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TY  - JOUR
T1  - Causal Relationship Between Climate and Financial Sector: A Systematic Literature Review and Policy Recommendations
AU  - Palvinder Kaur
AU  - Manminder Kaur
Y1  - 2023/06/05
PY  - 2023
N1  - https://doi.org/10.11648/j.ijebo.20231102.15
DO  - 10.11648/j.ijebo.20231102.15
T2  - International Journal of Economic Behavior and Organization
JF  - International Journal of Economic Behavior and Organization
JO  - International Journal of Economic Behavior and Organization
SP  - 80
EP  - 95
PB  - Science Publishing Group
SN  - 2328-7616
UR  - https://doi.org/10.11648/j.ijebo.20231102.15
AB  - The purpose of this article is to give a brief overview of what economists have attempted to study concerning climate change. Climate change and the financial system must be understood holistically. Our awareness of the immediate effects of climate disasters is also crucial, even though most studies focus on distant effects. We will examine the climate change relationship with financial system, and will discuss strategies that the financial sector could possibly implement for addressing climate change. This study identifies the causal relationships between the financial system and climate change, including adaptation and mitigation in the short period and concentrates on three specific areas, including bank behavior, asset prices, and insurance and, thus, it is found that both climate change and the financial sector are deeply entwined. As a result, this study aims to investigate the interactions and to make recommendations for policy makers.
VL  - 11
IS  - 2
ER  -

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Author Information

Palvinder Kaur

Department of Commerce, P.G.D.A.V. College (Eve.), University of Delhi, Delhi, India
Manminder Kaur

Department of Management, Guru Nanak Khalsa Institute of Technology and Management Technical Campus, Kurukshetra University, Kurukshetra, India

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APA Style

Palvinder Kaur, Manminder Kaur. (2023). Causal Relationship Between Climate and Financial Sector: A Systematic Literature Review and Policy Recommendations. International Journal of Economic Behavior and Organization, 11(2), 80-95. https://doi.org/10.11648/j.ijebo.20231102.15

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ACS Style

Palvinder Kaur; Manminder Kaur. Causal Relationship Between Climate and Financial Sector: A Systematic Literature Review and Policy Recommendations. Int. J. Econ. Behav. Organ. 2023, 11(2), 80-95. doi: 10.11648/j.ijebo.20231102.15

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AMA Style

Palvinder Kaur, Manminder Kaur. Causal Relationship Between Climate and Financial Sector: A Systematic Literature Review and Policy Recommendations. Int J Econ Behav Organ. 2023;11(2):80-95. doi: 10.11648/j.ijebo.20231102.15

Copy | Download

@article{10.11648/j.ijebo.20231102.15,
  author = {Palvinder Kaur and Manminder Kaur},
  title = {Causal Relationship Between Climate and Financial Sector: A Systematic Literature Review and Policy Recommendations},
  journal = {International Journal of Economic Behavior and Organization},
  volume = {11},
  number = {2},
  pages = {80-95},
  doi = {10.11648/j.ijebo.20231102.15},
  url = {https://doi.org/10.11648/j.ijebo.20231102.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijebo.20231102.15},
  abstract = {The purpose of this article is to give a brief overview of what economists have attempted to study concerning climate change. Climate change and the financial system must be understood holistically. Our awareness of the immediate effects of climate disasters is also crucial, even though most studies focus on distant effects. We will examine the climate change relationship with financial system, and will discuss strategies that the financial sector could possibly implement for addressing climate change. This study identifies the causal relationships between the financial system and climate change, including adaptation and mitigation in the short period and concentrates on three specific areas, including bank behavior, asset prices, and insurance and, thus, it is found that both climate change and the financial sector are deeply entwined. As a result, this study aims to investigate the interactions and to make recommendations for policy makers.},
 year = {2023}
}

Copy | Download

TY  - JOUR
T1  - Causal Relationship Between Climate and Financial Sector: A Systematic Literature Review and Policy Recommendations
AU  - Palvinder Kaur
AU  - Manminder Kaur
Y1  - 2023/06/05
PY  - 2023
N1  - https://doi.org/10.11648/j.ijebo.20231102.15
DO  - 10.11648/j.ijebo.20231102.15
T2  - International Journal of Economic Behavior and Organization
JF  - International Journal of Economic Behavior and Organization
JO  - International Journal of Economic Behavior and Organization
SP  - 80
EP  - 95
PB  - Science Publishing Group
SN  - 2328-7616
UR  - https://doi.org/10.11648/j.ijebo.20231102.15
AB  - The purpose of this article is to give a brief overview of what economists have attempted to study concerning climate change. Climate change and the financial system must be understood holistically. Our awareness of the immediate effects of climate disasters is also crucial, even though most studies focus on distant effects. We will examine the climate change relationship with financial system, and will discuss strategies that the financial sector could possibly implement for addressing climate change. This study identifies the causal relationships between the financial system and climate change, including adaptation and mitigation in the short period and concentrates on three specific areas, including bank behavior, asset prices, and insurance and, thus, it is found that both climate change and the financial sector are deeply entwined. As a result, this study aims to investigate the interactions and to make recommendations for policy makers.
VL  - 11
IS  - 2
ER  -

Copy | Download