TY - UNPD A1 - Berg, Tobias A1 - Carletti, Elena A1 - Claessens, Stijn A1 - Krahnen, Jan Pieter A1 - Monasterolo, Irene A1 - Pagano, Marco T1 - Climate regulation and financial risk: the challenge of policy uncertainty N2 - Climate risk has become a major concern for financial institutions and financial markets. Yet, climate policy is still in its infancy and contributes to increased uncertainty. For example, the lack of a sufficiently high carbon price and the variety of definitions for green activities lower the value of existing and new capital, and complicate risk management. This column argues that it would be welfare-enhancing if policy changes were to follow a predictable longer-term path. Accordingly, the authors suggest a role for financial regulation in the transition. T3 - SAFE policy letter - 100 KW - Climate Change KW - Financial Regulation and Banking Y1 - 2023 UR - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/64482 UR - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-644823 UR - https://safe-frankfurt.de/policy-center/policy-publications/policy-publ-detailsview/publicationname/climate-regulation-and-financial-risk-the-challenge-of-policy-uncertainty.html PB - SAFE CY - Frankfurt am Main ER -