Research Archive
How Green is Our Balance Sheet?
The ECB says climate disclosures show that its investment strategy is “bearing fruit” on decarbonisation, but that ambitious action is needed as monetary policy tightening reduces its opportunities to tilt its portfolio.
Toward a Green Economy
In this paper published by the European Central Bank, economists analyse the efficacy of green quantitative easing and find that it would be most effective for reducing emissions if used aggressively and immediately.
Managing Inflation by Boosting Energy Transition
This Reclaim Finance report examines climate-related inflation, arguing that managing this price instability requires the ECB to support a clean energy transition.
Transition Versus Physical Climate Risk Pricing in European Financial Markets
This ECB study analysed climate-related news stories to build new climate risk indicators and compare them against equity returns, revealing that climate risk premiums have existed since 2015.
Fossil fuel: the new sub-primes? How funding the climate crisis can lead to a financial crisis
This assessment of the climate-related financial risks facing the 11 largest banks in the eurozone finds that they are highly exposed to a collapse in fossil fuel asset values, with potential contagion effects threatening financial stability. Comparing fossil fuel assets …
The Investment Portfolio of the Swiss National Bank and its Carbon Footprint
This paper analyses the equity holdings of the Swiss National Bank and estimates its carbon footprint which be reduced by 99.7% with a small investment reallocation.
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