Policy Reforms for Asset-Backed Securities in the Era of Climate Change
気候変動時代における資産担保証券の政策改革 (AI 翻訳)
Davis Brian
🤖 gxceed AI 要約
日本語
本研究は、気候変動が資産担保証券（ABS）に与える物理的・移行リスクを分析し、現在の規制枠組みの不備を指摘する。気候リスク開示の不足や長期的環境リスクの誤価格付け、規制の断片化が主要な脆弱性とされ、気候リスク評価と持続可能性原則を統合した政策改革の必要性を提言する。
English
This study examines climate-induced risks to asset-backed securities, identifying inadequate disclosure, mispricing, and regulatory fragmentation as key vulnerabilities. It advocates for policy reforms that integrate climate risk assessment and sustainability principles to enhance market stability and support the low-carbon transition.
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
本論文は、気候変動が証券化市場にもたらすシステミックリスクを指摘し、開示と規制の改革を求める。日本ではSSBJや有報での気候関連開示が進むが、ABS市場への具体的な適用は限定的であり、本稿の提言は日本の金融規制当局や市場参加者にとって参考となる。
In the global GX context
This paper contributes to the global discourse on climate risk in financial markets, particularly within the TCFD-ISSB framework and transition finance discussions. It highlights the need for enhanced disclosure and regulatory coordination in securitization, aligning with CSRD and SEC climate rule developments.
👥 読者別の含意
🔬研究者:Provides a qualitative framework for analyzing climate risk in structured finance and identifies gaps for empirical research.
🏢実務担当者:Offers insights for financial institutions on climate risk integration into ABS underwriting and disclosure practices.
🏛政策担当者:Relevant for regulators considering climate stress tests and disclosure mandates for securitization markets.
📄 Abstract（原文）
Climate change has emerged as a systemic risk to global financial systems, with asset-backed securities increasingly exposed to physical and transition-related climate threats. This study examines how existing regulatory and policy frameworks governing asset-backed securities fall short in addressing climate-induced risks and explores reform pathways that can enhance resilience and financial stability. Using a qualitative synthesis of contemporary academic literature and policy-oriented research, the study identifies key vulnerabilities in securitization markets, including inadequate climate risk disclosure, mispricing of long-term environmental risks, and regulatory fragmentation. The findings indicate that policy reforms integrating climate risk assessment, sustainability principles, and adaptive financial governance are essential to safeguarding asset-backed securities in a warming world. The study concludes that coordinated regulatory reforms, informed by climate science and sustainable finance principles, can improve market stability while supporting the broader transition to a low-carbon economy (Merchant; Mishra et al.; Wang; Westermeier).
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.2139/ssrn.6219539first seen 2026-05-15 21:54:47
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