← 論文一覧に戻る

Analysis of the Quantitative Transmission Mechanism of Climate Risk in Green Financial Asset Pricing

グリーン金融資産の価格形成における気候リスクの定量的伝達メカニズムの分析 (AI 翻訳)

Hao Wang

Exploring Science Academic Conference Seriesジャーナル2026-07-28#気候金融Origin: CN経営インパクト: 資金調達対象セクター: finance
DOI: 10.70267/icfmb.2026192331
原典: https://doi.org/10.70267/icfmb.2026192331
📄 PDF

🤖 gxceed AI 要約

日本語

気候リスクがグリーン金融資産の価格に及ぼす定量的影響を、カーボンプレミアム、気候シナリオ割引、デフォルト構造の3経路から整理したレビュー論文。伝統的な資産価格モデルへの修正経路や実務上の課題（データ標準化・モデル多様性）を論じ、気候リスクの市場価格付けに向けた文献基盤を提供する。

English

This review examines how climate risk is quantitatively priced into green financial assets through carbon premiums, climate scenario discounts, and default structures. It synthesizes theoretical logic, empirical evidence, and challenges, highlighting the need for data standardization and model harmonization to improve pricing accuracy.

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

日本の金融機関はSSBJ/TCFD開示に対応する中、気候リスクの価格化は重要な論点。本レビューは炭素プレミアムやシナリオ割引の実装ヒントを提供し、移行リスク評価に示唆を与える。

In the global GX context

As ISSB/CSRD implementation advances, quantifying climate risk in asset pricing becomes central to transition finance. This review offers a structured synthesis of transmission channels, useful for integrating climate factors into valuation and risk management.

👥 読者別の含意

🔬研究者:A structured map of how carbon premium, scenario discount, and default risk reshape asset pricing models.

🏢実務担当者:Guidance on incorporating climate risk into green bond pricing and credit risk assessment.

🏛政策担当者:Insights on how to design market mechanisms that internalize climate costs.

📄 Abstract（原文）

With the deepening of global climate governance and low-carbon transformation, the “green attribute” of green financial assets has broken through the traditional reputation premium category, gradually achieving quantitative pricing through three core channels: carbon premium, climate scenario discount, and default structure, and transforming into tradable additional rates of return or interest spreads. This article systematically reviews high-level literature at home and abroad, discusses the theoretical logic, empirical evidence, and transmission mechanism of the three major quantitative channels, analyzes the correction path of climate risk on traditional asset pricing models, explores the controversies and challenges in current pricing practices, and looks forward to future research directions. Research has found that the physical and transitional dimensions of climate risk have been deeply embedded in the valuation system of green financial assets, with carbon cost internalization, scenario dynamic discounting, and default risk reconstruction becoming the core pricing logic. However, issues such as insufficient data standardization and model heterogeneity still constrain quantification accuracy. This article aims to provide literature support for the improvement and practical application of green financial asset pricing theory, and to assist in the market-oriented pricing of climate risks in finance.

🔗 Provenance — このレコードを発見したソース

🔔 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。