気候リスクとESG圧力
Climate Risk and ESG Pressures (原題)
Renata Karkowska
🤖 gxceed AI 要約
日本語
本書の章では、気候リスクの分類と金融市場への伝達経路を整理し、ESG圧力が規制・開示・法的・評判的制約を通じて投資家行動に与える影響を分析する。さらに、高排出セクターにおける炭素コストとリターン動態の相互作用に焦点を当て、気候関連リスクの価格付けを検討する。欧州銀行機構の開示データを用いた実証分析では、グリーン資産比率を用いて欧州諸国のタクソノミー整合性をベンチマークし、報告カバレッジの比較可能性への影響を評価する。最後に、ESG制約下で生まれた金融・データ革新と市場構造への示唆を議論する。
English
This chapter clarifies climate risk taxonomy and transmission channels into financial markets, then analyzes how ESG pressures from regulation, disclosure, and legal constraints shape investor behavior. It examines pricing of climate risks, focusing on carbon cost signals and return dynamics in high-emissions sectors. An empirical assessment uses European Banking Authority disclosures and the Green Asset Ratio to benchmark taxonomy alignment across countries, analyze segment differences, and evaluate reporting coverage. The chapter concludes with financial and data innovations under ESG constraints and their implications for market microstructure and capital flows.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本ではSSBJ開示が始まり、金融機関や企業は気候リスクとESG圧力への対応が急務。本稿の欧州の実証分析は、日本の開示実務やグリーン資産比率の活用に示唆を与える。
In the global GX context
Globally, this chapter contributes to understanding how climate risk and ESG pressures transmit into financial markets, relevant for ISSB, CSRD, and SEC disclosure frameworks. The empirical analysis using EBA disclosures and the Green Asset Ratio offers a benchmark for taxonomy alignment and reporting comparability across jurisdictions.
👥 読者別の含意
🔬研究者:Provides a comprehensive framework linking climate risk, ESG pressures, and market pricing, with empirical evidence from European banking disclosures.
🏢実務担当者:Offers insights into how ESG pressures and disclosure standards affect investor behavior and market pricing, useful for corporate sustainability strategy and reporting.
🏛政策担当者:Highlights the role of regulation and disclosure in shaping climate risk pricing and the importance of reporting comparability, informing policy design.
📄 Abstract（原文）
This chapter explores the relationship between climate risk, ESG pressures, and global financial markets in a way that aligns with the book’s core themes of risk, regulation, and innovation. It first clarifies the taxonomy of climate risk and the main transmission channels into equity, credit, fixed income, insurance, and commodity markets. It then shows how ESG pressures are intensified by regulation, disclosure standards, and legal, reputational, and fiduciary constraints, and how these forces influence the behaviour of investors and financial intermediaries. The chapter also examines how climate-related risks are priced in securities markets, with special focus on the interaction between carbon cost signals and return dynamics in high-emissions sectors. In its final section, the chapter complements the conceptual discussion with an empirical assessment based on European Banking Authority disclosures, using the Green Asset Ratio to benchmark taxonomy alignment across European countries, analyse segment differences between non-financial corporates and households, and evaluate reporting coverage as an important factor in comparability. The chapter concludes by discussing financial and data innovations that have emerged under ESG constraints and their implications for market microstructure, capital allocation, and cross-border capital flows.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.4324/9781003746362-5first seen 2026-09-05 05:03:54
🔔 こうした論文の新着を逃したくない方は キーワードアラート に登録（無料・3キーワードまで）。
gxceed は公開メタデータに基づく研究支援データセットです。要約・翻訳・解説は AI 支援で生成されています。 最終的な解釈・検証は利用者が原典資料に基づいて行うことを前提とします。