TY  - UNPD
A1  - Klusak, Patrycja
A1  - Agarwala, Matthew
A1  - Burke, Matt
A1  - Kraemer, Moritz
A1  - Mohaddes, Kamiar
T1  - Rising temperatures, falling ratings: the effect of climate change on sovereign creditworthiness
T2  - Working paper series / Institute for Monetary and Financial Stability ; 158
N2  - How will a changing climate impact the creditworthiness of governments over the very long term? Financial markets need credible, digestible information on how climate change translates into material risks. To bridge the gap between climate science and real-world financial indicators, the authors simulate the effect of climate change on sovereign credit ratings for 108 countries, creating the world’s first climate-adjusted sovereign credit rating. The study offers a first methodological approach to extend the long-term rating to an ultra-long-term reality, aiming at long-term investors, but also regulators and rating agencies.
T3  - Working paper series / Institute for Monetary and Financial Stability - 158 
KW  - sovereign credit rating
KW  - climate change
KW  - counterfactual analysis
KW  - climate-economy models
KW  - corporate debt
KW  - sovereign debt
Y1  - 2021
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/56455
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-564554
UR  - https://www.imfs-frankfurt.de/forschung/imfs-working-papers/details/publication/rising-temperatures-falling-ratings-the-effect-of-climate-change-on-sovereign-creditworthiness.html
IS  - March 14th, 2021
PB  - Johann Wolfgang Goethe-Univ., Inst. for Monetary and Financial Stability
CY  - Frankfurt am Main
ER  -