Ecological, Societal, and Technological Risks and the Financial Sector:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Cham
Springer International Publishing AG
2020
|
| Schriftenreihe: | Palgrave Studies in Sustainable Business in Association with Future Earth Ser
|
| Schlagworte: | |
| Online-Zugang: | HWR01 |
| Beschreibung: | Description based on publisher supplied metadata and other sources |
| Beschreibung: | 1 Online-Ressource (453 pages) |
| ISBN: | 9783030388584 |
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| 505 | 8 | |a Intro -- Preface -- Acknowledgments -- Contents -- Notes on Contributors -- List of Figures -- List of Tables -- Chapter 1: Emerging Risks: An Overview -- Part I: Ecological Risks -- Part II: Societal Risks -- Part III: Technological Risks -- Summary -- References -- Part I: Ecological Risks -- Chapter 2: Climate Change: Macroeconomic Impact and Implications for Monetary Policy -- Introduction: Why Central Banks Care About Climate Change -- Climate Change Risks -- Climate Change and the Macroeconomy: The Transmission Channels -- Implications of Climate Change for Monetary Policy: A Summary -- Physical Risks, Macroeconomic Impacts and Implications for Monetary Policy -- Transition Risks, Macroeconomic Impacts and Monetary Policy -- Implications for the Analytical Framework of Monetary Policy Authorities -- Interactions Between Macroeconomic and Financial Climate Shocks -- Conclusion -- References -- Chapter 3: Global Warming and Extreme Weather Investment Risks -- Introduction -- Global Warming and Hurricane Damage -- The State of the Climate Sciences -- Intensity and Frequency of Tropical Cyclones -- Precipitation -- Storm Surge Risk -- Floods, Droughts and Heat Waves -- Climate Change Denial -- Who Are the Emitters? -- What Would the Financial Damage Be? -- Critique -- Legal Aspects -- How Should Investors React? -- Conclusion -- References -- Chapter 4: Mapping Out When and Where Climate Risk Becomes a Credit Risk -- Introduction -- Identifying Transition Risk -- US Coal Mining Sector Example -- Transmission Channels -- Sector Prioritisation -- Scenario Analysis, Sensitivity Analysis, Stress Testing -- Mapping Physical Risk -- Climate Data Applicability -- Dealing with Both Events and Trends -- The Case of the California Wildfires -- Physical Risk Mitigation -- Conclusion -- References | |
| 505 | 8 | |a Chapter 5: Designing Insurance Against Extreme Weather Risk: The Case of HuRLOs -- Introduction -- Hurricane Risk Landfall Options -- A Simulation Experiment -- Assumptions -- General Results from the Simulations -- An Illustrative Example -- Computational Considerations -- Recommendations, and Public Policy Implications -- Conclusion -- Appendix 1: List of Parameters and Variables -- Appendix 2: Hurricane Landfall Probabilities in the United States -- Appendix 3: Price Updating Algorithm -- Appendix 4: Computation of the Outcome Probabilities -- Appendix 5: Computation of Marginal Impact -- Appendix 6: Simulation Algorithm -- References -- Chapter 6: The Evolving Risk Management Opportunity and Thinking Sustainability First -- Introduction -- Evolving Concepts -- Evolving Need to Clarify Fiduciary Duty -- Evolution of Material Issues and Scenario Analysis -- Evolving Responsibilities for Executives and Decision-Makers: Change Management -- Evolving Realities -- Examples of Evolving Issues Transforming Risk Management -- Climate Change -- Diversity and Inclusion -- Cybersecurity -- Presence of the Sustainable Development Goals -- The Evolution of Support for ESG-Sustainability -- Examples of Task Forces Influencing the Evolution -- Development of a Green Taxonomy of Opportunities -- Educational Needs to Ensure a Transition and Evolution -- Conclusion -- References -- Part II: Societal Risks -- Chapter 7: Terrorism and Trading: Differential Equity and Bond Market Responses During Violent Elections -- Introduction -- Efficient Markets, Information Flow, and Risk -- The Credit Ratings Process and Country Risk -- Pakistan and the 2013 Election -- Data on Electoral Violence -- Discussion -- Conclusion -- References -- Chapter 8: The Effect of Corporate Tax Avoidance on Society -- Introduction -- Tax Avoidance Schemes: Elements and Participants -- Overview | |
| 505 | 8 | |a Intermediaries -- Transfer of Tangibles -- Tariffs -- Transfer of Intangibles -- Dependence on Valuations of Intellectual Property -- Places Involved in Tax Avoidance -- Classification of Places Involved in Tax Avoidance -- Sales Taxes as a Special Case -- Actions to Mitigate the Tax Avoidance Issues Raised -- Overview -- Taxation of IP Transfers by Royalty -- OECD Efforts -- Identifying Tax Havens -- Base Erosion and Profit Shifting (BEPS) -- European Efforts -- Pressure on British Overseas Territories (BOT) -- Pressure on European Countries -- Apportionment of Revenues -- Digital Taxes -- Brexit -- Openness -- Conclusion -- References -- Chapter 9: Planning for the Carbon Crisis: Reimagining the Power of the US Central Bank and Financial Institutions to Avert a Twenty-First-Century Climate and Financial Disaster -- Introduction -- Buckling Up for the 2020s (and the Potential Next Financial Crisis) -- The Missing Signs of Fossil Fuel Stranded Assets -- The Systemic Nature of the Carbon Bubble -- Harnessing the Federal Reserve's Power -- The Federal Reserve's Role in US Financial Markets -- The Need for Climate-related Risks in Individual and Macro-prudential Supervision -- Plan to Resolve Failing Energy Companies -- A Re-envisioned Financial System -- Green Investment Bank -- Public Banks -- Conclusion -- References -- Chapter 10: Economic Risks from Policy Pressures in Montreal's Real Estate Market -- Introduction -- Drivers of Real Estate Economic Growth in Montreal -- Emerging Policies Impacting Real Estate Growth -- Case Study: New Development Project in Montreal Southwest -- Discussion -- Appendix 1: Affordable Units∗ -- References -- Chapter 11: Climate Change and Reputation in the Financial Services Sector -- Rising Relevance of Reputation -- Relevance -- Definition of Reputation -- Differentiation | |
| 505 | 8 | |a New Reputation Dimension for Financial Services -- Environmental Change -- Social Pressure -- Governance Transformation -- Necessity to Integrate Climate Change to Stay Relevant -- New Business Implications -- Strategic Considerations -- Tactical Affirmation -- Perceived Reputation by Stakeholders -- Availability of Information -- Classification of Information -- Usability of Information -- Conclusion -- References -- Chapter 12: Financial Risk Management in the Anthropocene Age -- Introduction -- The Risks from Climate Change -- The Markets for Pollution Permits -- Mitigation Lessons from SO2 Market -- How Does One Go About Creating Such Markets? -- CO2 Markets -- Compulsory and Voluntary Markets for CO2 -- Compulsory Market: EU ETS -- Voluntary Market: Chicago Carbon Exchange -- Adaptation, Mitigation, and Insurance -- Conclusion -- References -- Part III: Technological Risks -- Chapter 13: An Incentives-Based Mechanism for Corporate Cyber Governance Enforcement and Regulation -- Introduction -- Cybercrime and Financial Markets -- Cybercrime and Financial Risks: The State of [Regulatory] Play -- Cybercrime Events and Their Impact -- Systemic Risk Spill-Overs from Hacking Events -- White Knights and Proactive Risk Mitigation -- Concluding Remarks -- References -- Chapter 14: FinTech for Consumers and Retail Investors: Opportunities and Risks of Digital Payment and Investment Services -- Introduction -- Digital Payments -- Mobile Payments -- Cryptocurrencies -- Investment Services -- Crowdinvesting -- Robo Advisors -- Social Trading -- Conclusions -- References -- Chapter 15: Empirical Modelling of Man-made Disaster Scenarios -- Introduction -- Definition and Characteristics of Man-made Disasters and Their Distinction to Natural Hazards -- Data Collection, Preparation, and Analysis -- Data Collection and Preparation -- Data Analysis | |
| 505 | 8 | |a Developing a Loss Curve for Man-made Fire/Explosion Disasters based on Historical Industry Loss Data -- Frequency Distribution -- Severity Distribution -- Aggregate Loss Distribution -- Conclusion -- References -- Chapter 16: Changing Dynamics of Financial Risk Related to Investments in Low Carbon Technologies -- Introduction -- Climate Change Investment Landscape -- Climate Change and Financial Risks -- Climate Change Risks Associated with Coal Technology -- Financial Risks Associated with Low Carbon Technologies -- Shifting to Low Carbon Technologies -- Opportunities for the Financial Sector and the Management of Low Carbon Technologies Risks -- Insurance Companies -- Banking Sector -- Management of Risks by Renewable Energy Companies -- Conclusion -- References -- Chapter 17: A New Era in the Risk Management of Financial Firms -- Introduction -- Traditional Risks of Financial Companies -- Business Continuity Principles for Financial Companies -- New Outlook of the Finance Industry -- Taxonomy of Digital Finance Business Functions -- Risks and Risk Management of Financial Companies in the Digitalization Era -- E-Financing -- Challenges of E-Financing -- Risk Management Principles for E-Financing Activities -- Outsourcing -- Challenges of Outsourcing -- Risk Management Principles for Outsourcing -- Cyber Security -- Challenges of Cyber Security -- Risk Management Principles for Cyber Security -- Conclusion -- References -- Chapter 18: Emerging Risks: Concluding Remarks -- Relevance of Emerging Risks -- Characteristics of Emerging Risks -- Approaches to Modeling and Management -- The Next Steps -- References -- Index | |
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Datensatz im Suchindex
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| author | Walker, Thomas |
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| contents | Intro -- Preface -- Acknowledgments -- Contents -- Notes on Contributors -- List of Figures -- List of Tables -- Chapter 1: Emerging Risks: An Overview -- Part I: Ecological Risks -- Part II: Societal Risks -- Part III: Technological Risks -- Summary -- References -- Part I: Ecological Risks -- Chapter 2: Climate Change: Macroeconomic Impact and Implications for Monetary Policy -- Introduction: Why Central Banks Care About Climate Change -- Climate Change Risks -- Climate Change and the Macroeconomy: The Transmission Channels -- Implications of Climate Change for Monetary Policy: A Summary -- Physical Risks, Macroeconomic Impacts and Implications for Monetary Policy -- Transition Risks, Macroeconomic Impacts and Monetary Policy -- Implications for the Analytical Framework of Monetary Policy Authorities -- Interactions Between Macroeconomic and Financial Climate Shocks -- Conclusion -- References -- Chapter 3: Global Warming and Extreme Weather Investment Risks -- Introduction -- Global Warming and Hurricane Damage -- The State of the Climate Sciences -- Intensity and Frequency of Tropical Cyclones -- Precipitation -- Storm Surge Risk -- Floods, Droughts and Heat Waves -- Climate Change Denial -- Who Are the Emitters? -- What Would the Financial Damage Be? -- Critique -- Legal Aspects -- How Should Investors React? -- Conclusion -- References -- Chapter 4: Mapping Out When and Where Climate Risk Becomes a Credit Risk -- Introduction -- Identifying Transition Risk -- US Coal Mining Sector Example -- Transmission Channels -- Sector Prioritisation -- Scenario Analysis, Sensitivity Analysis, Stress Testing -- Mapping Physical Risk -- Climate Data Applicability -- Dealing with Both Events and Trends -- The Case of the California Wildfires -- Physical Risk Mitigation -- Conclusion -- References Chapter 5: Designing Insurance Against Extreme Weather Risk: The Case of HuRLOs -- Introduction -- Hurricane Risk Landfall Options -- A Simulation Experiment -- Assumptions -- General Results from the Simulations -- An Illustrative Example -- Computational Considerations -- Recommendations, and Public Policy Implications -- Conclusion -- Appendix 1: List of Parameters and Variables -- Appendix 2: Hurricane Landfall Probabilities in the United States -- Appendix 3: Price Updating Algorithm -- Appendix 4: Computation of the Outcome Probabilities -- Appendix 5: Computation of Marginal Impact -- Appendix 6: Simulation Algorithm -- References -- Chapter 6: The Evolving Risk Management Opportunity and Thinking Sustainability First -- Introduction -- Evolving Concepts -- Evolving Need to Clarify Fiduciary Duty -- Evolution of Material Issues and Scenario Analysis -- Evolving Responsibilities for Executives and Decision-Makers: Change Management -- Evolving Realities -- Examples of Evolving Issues Transforming Risk Management -- Climate Change -- Diversity and Inclusion -- Cybersecurity -- Presence of the Sustainable Development Goals -- The Evolution of Support for ESG-Sustainability -- Examples of Task Forces Influencing the Evolution -- Development of a Green Taxonomy of Opportunities -- Educational Needs to Ensure a Transition and Evolution -- Conclusion -- References -- Part II: Societal Risks -- Chapter 7: Terrorism and Trading: Differential Equity and Bond Market Responses During Violent Elections -- Introduction -- Efficient Markets, Information Flow, and Risk -- The Credit Ratings Process and Country Risk -- Pakistan and the 2013 Election -- Data on Electoral Violence -- Discussion -- Conclusion -- References -- Chapter 8: The Effect of Corporate Tax Avoidance on Society -- Introduction -- Tax Avoidance Schemes: Elements and Participants -- Overview Intermediaries -- Transfer of Tangibles -- Tariffs -- Transfer of Intangibles -- Dependence on Valuations of Intellectual Property -- Places Involved in Tax Avoidance -- Classification of Places Involved in Tax Avoidance -- Sales Taxes as a Special Case -- Actions to Mitigate the Tax Avoidance Issues Raised -- Overview -- Taxation of IP Transfers by Royalty -- OECD Efforts -- Identifying Tax Havens -- Base Erosion and Profit Shifting (BEPS) -- European Efforts -- Pressure on British Overseas Territories (BOT) -- Pressure on European Countries -- Apportionment of Revenues -- Digital Taxes -- Brexit -- Openness -- Conclusion -- References -- Chapter 9: Planning for the Carbon Crisis: Reimagining the Power of the US Central Bank and Financial Institutions to Avert a Twenty-First-Century Climate and Financial Disaster -- Introduction -- Buckling Up for the 2020s (and the Potential Next Financial Crisis) -- The Missing Signs of Fossil Fuel Stranded Assets -- The Systemic Nature of the Carbon Bubble -- Harnessing the Federal Reserve's Power -- The Federal Reserve's Role in US Financial Markets -- The Need for Climate-related Risks in Individual and Macro-prudential Supervision -- Plan to Resolve Failing Energy Companies -- A Re-envisioned Financial System -- Green Investment Bank -- Public Banks -- Conclusion -- References -- Chapter 10: Economic Risks from Policy Pressures in Montreal's Real Estate Market -- Introduction -- Drivers of Real Estate Economic Growth in Montreal -- Emerging Policies Impacting Real Estate Growth -- Case Study: New Development Project in Montreal Southwest -- Discussion -- Appendix 1: Affordable Units∗ -- References -- Chapter 11: Climate Change and Reputation in the Financial Services Sector -- Rising Relevance of Reputation -- Relevance -- Definition of Reputation -- Differentiation New Reputation Dimension for Financial Services -- Environmental Change -- Social Pressure -- Governance Transformation -- Necessity to Integrate Climate Change to Stay Relevant -- New Business Implications -- Strategic Considerations -- Tactical Affirmation -- Perceived Reputation by Stakeholders -- Availability of Information -- Classification of Information -- Usability of Information -- Conclusion -- References -- Chapter 12: Financial Risk Management in the Anthropocene Age -- Introduction -- The Risks from Climate Change -- The Markets for Pollution Permits -- Mitigation Lessons from SO2 Market -- How Does One Go About Creating Such Markets? -- CO2 Markets -- Compulsory and Voluntary Markets for CO2 -- Compulsory Market: EU ETS -- Voluntary Market: Chicago Carbon Exchange -- Adaptation, Mitigation, and Insurance -- Conclusion -- References -- Part III: Technological Risks -- Chapter 13: An Incentives-Based Mechanism for Corporate Cyber Governance Enforcement and Regulation -- Introduction -- Cybercrime and Financial Markets -- Cybercrime and Financial Risks: The State of [Regulatory] Play -- Cybercrime Events and Their Impact -- Systemic Risk Spill-Overs from Hacking Events -- White Knights and Proactive Risk Mitigation -- Concluding Remarks -- References -- Chapter 14: FinTech for Consumers and Retail Investors: Opportunities and Risks of Digital Payment and Investment Services -- Introduction -- Digital Payments -- Mobile Payments -- Cryptocurrencies -- Investment Services -- Crowdinvesting -- Robo Advisors -- Social Trading -- Conclusions -- References -- Chapter 15: Empirical Modelling of Man-made Disaster Scenarios -- Introduction -- Definition and Characteristics of Man-made Disasters and Their Distinction to Natural Hazards -- Data Collection, Preparation, and Analysis -- Data Collection and Preparation -- Data Analysis Developing a Loss Curve for Man-made Fire/Explosion Disasters based on Historical Industry Loss Data -- Frequency Distribution -- Severity Distribution -- Aggregate Loss Distribution -- Conclusion -- References -- Chapter 16: Changing Dynamics of Financial Risk Related to Investments in Low Carbon Technologies -- Introduction -- Climate Change Investment Landscape -- Climate Change and Financial Risks -- Climate Change Risks Associated with Coal Technology -- Financial Risks Associated with Low Carbon Technologies -- Shifting to Low Carbon Technologies -- Opportunities for the Financial Sector and the Management of Low Carbon Technologies Risks -- Insurance Companies -- Banking Sector -- Management of Risks by Renewable Energy Companies -- Conclusion -- References -- Chapter 17: A New Era in the Risk Management of Financial Firms -- Introduction -- Traditional Risks of Financial Companies -- Business Continuity Principles for Financial Companies -- New Outlook of the Finance Industry -- Taxonomy of Digital Finance Business Functions -- Risks and Risk Management of Financial Companies in the Digitalization Era -- E-Financing -- Challenges of E-Financing -- Risk Management Principles for E-Financing Activities -- Outsourcing -- Challenges of Outsourcing -- Risk Management Principles for Outsourcing -- Cyber Security -- Challenges of Cyber Security -- Risk Management Principles for Cyber Security -- Conclusion -- References -- Chapter 18: Emerging Risks: Concluding Remarks -- Relevance of Emerging Risks -- Characteristics of Emerging Risks -- Approaches to Modeling and Management -- The Next Steps -- References -- Index |
| ctrlnum | (ZDB-30-PQE)EBC6226706 (ZDB-30-PAD)EBC6226706 (ZDB-89-EBL)EBL6226706 (OCoLC)1184031075 (DE-599)BVBBV048222851 |
| dewey-full | 332.10681 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.10681 |
| dewey-search | 332.10681 |
| dewey-sort | 3332.10681 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| format | Electronic eBook |
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| id | DE-604.BV048222851 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T19:50:37Z |
| indexdate | 2024-07-10T09:32:27Z |
| institution | BVB |
| isbn | 9783030388584 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033603584 |
| oclc_num | 1184031075 |
| open_access_boolean | |
| owner | DE-2070s |
| owner_facet | DE-2070s |
| physical | 1 Online-Ressource (453 pages) |
| psigel | ZDB-30-PQE ZDB-30-PQE HWR_PDA_PQE |
| publishDate | 2020 |
| publishDateSearch | 2020 |
| publishDateSort | 2020 |
| publisher | Springer International Publishing AG |
| record_format | marc |
| series2 | Palgrave Studies in Sustainable Business in Association with Future Earth Ser |
| spelling | Walker, Thomas Verfasser aut Ecological, Societal, and Technological Risks and the Financial Sector Cham Springer International Publishing AG 2020 ©2020 1 Online-Ressource (453 pages) txt rdacontent c rdamedia cr rdacarrier Palgrave Studies in Sustainable Business in Association with Future Earth Ser Description based on publisher supplied metadata and other sources Intro -- Preface -- Acknowledgments -- Contents -- Notes on Contributors -- List of Figures -- List of Tables -- Chapter 1: Emerging Risks: An Overview -- Part I: Ecological Risks -- Part II: Societal Risks -- Part III: Technological Risks -- Summary -- References -- Part I: Ecological Risks -- Chapter 2: Climate Change: Macroeconomic Impact and Implications for Monetary Policy -- Introduction: Why Central Banks Care About Climate Change -- Climate Change Risks -- Climate Change and the Macroeconomy: The Transmission Channels -- Implications of Climate Change for Monetary Policy: A Summary -- Physical Risks, Macroeconomic Impacts and Implications for Monetary Policy -- Transition Risks, Macroeconomic Impacts and Monetary Policy -- Implications for the Analytical Framework of Monetary Policy Authorities -- Interactions Between Macroeconomic and Financial Climate Shocks -- Conclusion -- References -- Chapter 3: Global Warming and Extreme Weather Investment Risks -- Introduction -- Global Warming and Hurricane Damage -- The State of the Climate Sciences -- Intensity and Frequency of Tropical Cyclones -- Precipitation -- Storm Surge Risk -- Floods, Droughts and Heat Waves -- Climate Change Denial -- Who Are the Emitters? -- What Would the Financial Damage Be? -- Critique -- Legal Aspects -- How Should Investors React? -- Conclusion -- References -- Chapter 4: Mapping Out When and Where Climate Risk Becomes a Credit Risk -- Introduction -- Identifying Transition Risk -- US Coal Mining Sector Example -- Transmission Channels -- Sector Prioritisation -- Scenario Analysis, Sensitivity Analysis, Stress Testing -- Mapping Physical Risk -- Climate Data Applicability -- Dealing with Both Events and Trends -- The Case of the California Wildfires -- Physical Risk Mitigation -- Conclusion -- References Chapter 5: Designing Insurance Against Extreme Weather Risk: The Case of HuRLOs -- Introduction -- Hurricane Risk Landfall Options -- A Simulation Experiment -- Assumptions -- General Results from the Simulations -- An Illustrative Example -- Computational Considerations -- Recommendations, and Public Policy Implications -- Conclusion -- Appendix 1: List of Parameters and Variables -- Appendix 2: Hurricane Landfall Probabilities in the United States -- Appendix 3: Price Updating Algorithm -- Appendix 4: Computation of the Outcome Probabilities -- Appendix 5: Computation of Marginal Impact -- Appendix 6: Simulation Algorithm -- References -- Chapter 6: The Evolving Risk Management Opportunity and Thinking Sustainability First -- Introduction -- Evolving Concepts -- Evolving Need to Clarify Fiduciary Duty -- Evolution of Material Issues and Scenario Analysis -- Evolving Responsibilities for Executives and Decision-Makers: Change Management -- Evolving Realities -- Examples of Evolving Issues Transforming Risk Management -- Climate Change -- Diversity and Inclusion -- Cybersecurity -- Presence of the Sustainable Development Goals -- The Evolution of Support for ESG-Sustainability -- Examples of Task Forces Influencing the Evolution -- Development of a Green Taxonomy of Opportunities -- Educational Needs to Ensure a Transition and Evolution -- Conclusion -- References -- Part II: Societal Risks -- Chapter 7: Terrorism and Trading: Differential Equity and Bond Market Responses During Violent Elections -- Introduction -- Efficient Markets, Information Flow, and Risk -- The Credit Ratings Process and Country Risk -- Pakistan and the 2013 Election -- Data on Electoral Violence -- Discussion -- Conclusion -- References -- Chapter 8: The Effect of Corporate Tax Avoidance on Society -- Introduction -- Tax Avoidance Schemes: Elements and Participants -- Overview Intermediaries -- Transfer of Tangibles -- Tariffs -- Transfer of Intangibles -- Dependence on Valuations of Intellectual Property -- Places Involved in Tax Avoidance -- Classification of Places Involved in Tax Avoidance -- Sales Taxes as a Special Case -- Actions to Mitigate the Tax Avoidance Issues Raised -- Overview -- Taxation of IP Transfers by Royalty -- OECD Efforts -- Identifying Tax Havens -- Base Erosion and Profit Shifting (BEPS) -- European Efforts -- Pressure on British Overseas Territories (BOT) -- Pressure on European Countries -- Apportionment of Revenues -- Digital Taxes -- Brexit -- Openness -- Conclusion -- References -- Chapter 9: Planning for the Carbon Crisis: Reimagining the Power of the US Central Bank and Financial Institutions to Avert a Twenty-First-Century Climate and Financial Disaster -- Introduction -- Buckling Up for the 2020s (and the Potential Next Financial Crisis) -- The Missing Signs of Fossil Fuel Stranded Assets -- The Systemic Nature of the Carbon Bubble -- Harnessing the Federal Reserve's Power -- The Federal Reserve's Role in US Financial Markets -- The Need for Climate-related Risks in Individual and Macro-prudential Supervision -- Plan to Resolve Failing Energy Companies -- A Re-envisioned Financial System -- Green Investment Bank -- Public Banks -- Conclusion -- References -- Chapter 10: Economic Risks from Policy Pressures in Montreal's Real Estate Market -- Introduction -- Drivers of Real Estate Economic Growth in Montreal -- Emerging Policies Impacting Real Estate Growth -- Case Study: New Development Project in Montreal Southwest -- Discussion -- Appendix 1: Affordable Units∗ -- References -- Chapter 11: Climate Change and Reputation in the Financial Services Sector -- Rising Relevance of Reputation -- Relevance -- Definition of Reputation -- Differentiation New Reputation Dimension for Financial Services -- Environmental Change -- Social Pressure -- Governance Transformation -- Necessity to Integrate Climate Change to Stay Relevant -- New Business Implications -- Strategic Considerations -- Tactical Affirmation -- Perceived Reputation by Stakeholders -- Availability of Information -- Classification of Information -- Usability of Information -- Conclusion -- References -- Chapter 12: Financial Risk Management in the Anthropocene Age -- Introduction -- The Risks from Climate Change -- The Markets for Pollution Permits -- Mitigation Lessons from SO2 Market -- How Does One Go About Creating Such Markets? -- CO2 Markets -- Compulsory and Voluntary Markets for CO2 -- Compulsory Market: EU ETS -- Voluntary Market: Chicago Carbon Exchange -- Adaptation, Mitigation, and Insurance -- Conclusion -- References -- Part III: Technological Risks -- Chapter 13: An Incentives-Based Mechanism for Corporate Cyber Governance Enforcement and Regulation -- Introduction -- Cybercrime and Financial Markets -- Cybercrime and Financial Risks: The State of [Regulatory] Play -- Cybercrime Events and Their Impact -- Systemic Risk Spill-Overs from Hacking Events -- White Knights and Proactive Risk Mitigation -- Concluding Remarks -- References -- Chapter 14: FinTech for Consumers and Retail Investors: Opportunities and Risks of Digital Payment and Investment Services -- Introduction -- Digital Payments -- Mobile Payments -- Cryptocurrencies -- Investment Services -- Crowdinvesting -- Robo Advisors -- Social Trading -- Conclusions -- References -- Chapter 15: Empirical Modelling of Man-made Disaster Scenarios -- Introduction -- Definition and Characteristics of Man-made Disasters and Their Distinction to Natural Hazards -- Data Collection, Preparation, and Analysis -- Data Collection and Preparation -- Data Analysis Developing a Loss Curve for Man-made Fire/Explosion Disasters based on Historical Industry Loss Data -- Frequency Distribution -- Severity Distribution -- Aggregate Loss Distribution -- Conclusion -- References -- Chapter 16: Changing Dynamics of Financial Risk Related to Investments in Low Carbon Technologies -- Introduction -- Climate Change Investment Landscape -- Climate Change and Financial Risks -- Climate Change Risks Associated with Coal Technology -- Financial Risks Associated with Low Carbon Technologies -- Shifting to Low Carbon Technologies -- Opportunities for the Financial Sector and the Management of Low Carbon Technologies Risks -- Insurance Companies -- Banking Sector -- Management of Risks by Renewable Energy Companies -- Conclusion -- References -- Chapter 17: A New Era in the Risk Management of Financial Firms -- Introduction -- Traditional Risks of Financial Companies -- Business Continuity Principles for Financial Companies -- New Outlook of the Finance Industry -- Taxonomy of Digital Finance Business Functions -- Risks and Risk Management of Financial Companies in the Digitalization Era -- E-Financing -- Challenges of E-Financing -- Risk Management Principles for E-Financing Activities -- Outsourcing -- Challenges of Outsourcing -- Risk Management Principles for Outsourcing -- Cyber Security -- Challenges of Cyber Security -- Risk Management Principles for Cyber Security -- Conclusion -- References -- Chapter 18: Emerging Risks: Concluding Remarks -- Relevance of Emerging Risks -- Characteristics of Emerging Risks -- Approaches to Modeling and Management -- The Next Steps -- References -- Index Finance-Environmental aspects Gramlich, Dieter Sonstige oth Bitar, Mohammad Sonstige oth Fardnia, Pedram Sonstige oth Erscheint auch als Druck-Ausgabe Walker, Thomas Ecological, Societal, and Technological Risks and the Financial Sector Cham : Springer International Publishing AG,c2020 9783030388577 |
| spellingShingle | Walker, Thomas Ecological, Societal, and Technological Risks and the Financial Sector Intro -- Preface -- Acknowledgments -- Contents -- Notes on Contributors -- List of Figures -- List of Tables -- Chapter 1: Emerging Risks: An Overview -- Part I: Ecological Risks -- Part II: Societal Risks -- Part III: Technological Risks -- Summary -- References -- Part I: Ecological Risks -- Chapter 2: Climate Change: Macroeconomic Impact and Implications for Monetary Policy -- Introduction: Why Central Banks Care About Climate Change -- Climate Change Risks -- Climate Change and the Macroeconomy: The Transmission Channels -- Implications of Climate Change for Monetary Policy: A Summary -- Physical Risks, Macroeconomic Impacts and Implications for Monetary Policy -- Transition Risks, Macroeconomic Impacts and Monetary Policy -- Implications for the Analytical Framework of Monetary Policy Authorities -- Interactions Between Macroeconomic and Financial Climate Shocks -- Conclusion -- References -- Chapter 3: Global Warming and Extreme Weather Investment Risks -- Introduction -- Global Warming and Hurricane Damage -- The State of the Climate Sciences -- Intensity and Frequency of Tropical Cyclones -- Precipitation -- Storm Surge Risk -- Floods, Droughts and Heat Waves -- Climate Change Denial -- Who Are the Emitters? -- What Would the Financial Damage Be? -- Critique -- Legal Aspects -- How Should Investors React? -- Conclusion -- References -- Chapter 4: Mapping Out When and Where Climate Risk Becomes a Credit Risk -- Introduction -- Identifying Transition Risk -- US Coal Mining Sector Example -- Transmission Channels -- Sector Prioritisation -- Scenario Analysis, Sensitivity Analysis, Stress Testing -- Mapping Physical Risk -- Climate Data Applicability -- Dealing with Both Events and Trends -- The Case of the California Wildfires -- Physical Risk Mitigation -- Conclusion -- References Chapter 5: Designing Insurance Against Extreme Weather Risk: The Case of HuRLOs -- Introduction -- Hurricane Risk Landfall Options -- A Simulation Experiment -- Assumptions -- General Results from the Simulations -- An Illustrative Example -- Computational Considerations -- Recommendations, and Public Policy Implications -- Conclusion -- Appendix 1: List of Parameters and Variables -- Appendix 2: Hurricane Landfall Probabilities in the United States -- Appendix 3: Price Updating Algorithm -- Appendix 4: Computation of the Outcome Probabilities -- Appendix 5: Computation of Marginal Impact -- Appendix 6: Simulation Algorithm -- References -- Chapter 6: The Evolving Risk Management Opportunity and Thinking Sustainability First -- Introduction -- Evolving Concepts -- Evolving Need to Clarify Fiduciary Duty -- Evolution of Material Issues and Scenario Analysis -- Evolving Responsibilities for Executives and Decision-Makers: Change Management -- Evolving Realities -- Examples of Evolving Issues Transforming Risk Management -- Climate Change -- Diversity and Inclusion -- Cybersecurity -- Presence of the Sustainable Development Goals -- The Evolution of Support for ESG-Sustainability -- Examples of Task Forces Influencing the Evolution -- Development of a Green Taxonomy of Opportunities -- Educational Needs to Ensure a Transition and Evolution -- Conclusion -- References -- Part II: Societal Risks -- Chapter 7: Terrorism and Trading: Differential Equity and Bond Market Responses During Violent Elections -- Introduction -- Efficient Markets, Information Flow, and Risk -- The Credit Ratings Process and Country Risk -- Pakistan and the 2013 Election -- Data on Electoral Violence -- Discussion -- Conclusion -- References -- Chapter 8: The Effect of Corporate Tax Avoidance on Society -- Introduction -- Tax Avoidance Schemes: Elements and Participants -- Overview Intermediaries -- Transfer of Tangibles -- Tariffs -- Transfer of Intangibles -- Dependence on Valuations of Intellectual Property -- Places Involved in Tax Avoidance -- Classification of Places Involved in Tax Avoidance -- Sales Taxes as a Special Case -- Actions to Mitigate the Tax Avoidance Issues Raised -- Overview -- Taxation of IP Transfers by Royalty -- OECD Efforts -- Identifying Tax Havens -- Base Erosion and Profit Shifting (BEPS) -- European Efforts -- Pressure on British Overseas Territories (BOT) -- Pressure on European Countries -- Apportionment of Revenues -- Digital Taxes -- Brexit -- Openness -- Conclusion -- References -- Chapter 9: Planning for the Carbon Crisis: Reimagining the Power of the US Central Bank and Financial Institutions to Avert a Twenty-First-Century Climate and Financial Disaster -- Introduction -- Buckling Up for the 2020s (and the Potential Next Financial Crisis) -- The Missing Signs of Fossil Fuel Stranded Assets -- The Systemic Nature of the Carbon Bubble -- Harnessing the Federal Reserve's Power -- The Federal Reserve's Role in US Financial Markets -- The Need for Climate-related Risks in Individual and Macro-prudential Supervision -- Plan to Resolve Failing Energy Companies -- A Re-envisioned Financial System -- Green Investment Bank -- Public Banks -- Conclusion -- References -- Chapter 10: Economic Risks from Policy Pressures in Montreal's Real Estate Market -- Introduction -- Drivers of Real Estate Economic Growth in Montreal -- Emerging Policies Impacting Real Estate Growth -- Case Study: New Development Project in Montreal Southwest -- Discussion -- Appendix 1: Affordable Units∗ -- References -- Chapter 11: Climate Change and Reputation in the Financial Services Sector -- Rising Relevance of Reputation -- Relevance -- Definition of Reputation -- Differentiation New Reputation Dimension for Financial Services -- Environmental Change -- Social Pressure -- Governance Transformation -- Necessity to Integrate Climate Change to Stay Relevant -- New Business Implications -- Strategic Considerations -- Tactical Affirmation -- Perceived Reputation by Stakeholders -- Availability of Information -- Classification of Information -- Usability of Information -- Conclusion -- References -- Chapter 12: Financial Risk Management in the Anthropocene Age -- Introduction -- The Risks from Climate Change -- The Markets for Pollution Permits -- Mitigation Lessons from SO2 Market -- How Does One Go About Creating Such Markets? -- CO2 Markets -- Compulsory and Voluntary Markets for CO2 -- Compulsory Market: EU ETS -- Voluntary Market: Chicago Carbon Exchange -- Adaptation, Mitigation, and Insurance -- Conclusion -- References -- Part III: Technological Risks -- Chapter 13: An Incentives-Based Mechanism for Corporate Cyber Governance Enforcement and Regulation -- Introduction -- Cybercrime and Financial Markets -- Cybercrime and Financial Risks: The State of [Regulatory] Play -- Cybercrime Events and Their Impact -- Systemic Risk Spill-Overs from Hacking Events -- White Knights and Proactive Risk Mitigation -- Concluding Remarks -- References -- Chapter 14: FinTech for Consumers and Retail Investors: Opportunities and Risks of Digital Payment and Investment Services -- Introduction -- Digital Payments -- Mobile Payments -- Cryptocurrencies -- Investment Services -- Crowdinvesting -- Robo Advisors -- Social Trading -- Conclusions -- References -- Chapter 15: Empirical Modelling of Man-made Disaster Scenarios -- Introduction -- Definition and Characteristics of Man-made Disasters and Their Distinction to Natural Hazards -- Data Collection, Preparation, and Analysis -- Data Collection and Preparation -- Data Analysis Developing a Loss Curve for Man-made Fire/Explosion Disasters based on Historical Industry Loss Data -- Frequency Distribution -- Severity Distribution -- Aggregate Loss Distribution -- Conclusion -- References -- Chapter 16: Changing Dynamics of Financial Risk Related to Investments in Low Carbon Technologies -- Introduction -- Climate Change Investment Landscape -- Climate Change and Financial Risks -- Climate Change Risks Associated with Coal Technology -- Financial Risks Associated with Low Carbon Technologies -- Shifting to Low Carbon Technologies -- Opportunities for the Financial Sector and the Management of Low Carbon Technologies Risks -- Insurance Companies -- Banking Sector -- Management of Risks by Renewable Energy Companies -- Conclusion -- References -- Chapter 17: A New Era in the Risk Management of Financial Firms -- Introduction -- Traditional Risks of Financial Companies -- Business Continuity Principles for Financial Companies -- New Outlook of the Finance Industry -- Taxonomy of Digital Finance Business Functions -- Risks and Risk Management of Financial Companies in the Digitalization Era -- E-Financing -- Challenges of E-Financing -- Risk Management Principles for E-Financing Activities -- Outsourcing -- Challenges of Outsourcing -- Risk Management Principles for Outsourcing -- Cyber Security -- Challenges of Cyber Security -- Risk Management Principles for Cyber Security -- Conclusion -- References -- Chapter 18: Emerging Risks: Concluding Remarks -- Relevance of Emerging Risks -- Characteristics of Emerging Risks -- Approaches to Modeling and Management -- The Next Steps -- References -- Index Finance-Environmental aspects |
| title | Ecological, Societal, and Technological Risks and the Financial Sector |
| title_auth | Ecological, Societal, and Technological Risks and the Financial Sector |
| title_exact_search | Ecological, Societal, and Technological Risks and the Financial Sector |
| title_exact_search_txtP | Ecological, Societal, and Technological Risks and the Financial Sector |
| title_full | Ecological, Societal, and Technological Risks and the Financial Sector |
| title_fullStr | Ecological, Societal, and Technological Risks and the Financial Sector |
| title_full_unstemmed | Ecological, Societal, and Technological Risks and the Financial Sector |
| title_short | Ecological, Societal, and Technological Risks and the Financial Sector |
| title_sort | ecological societal and technological risks and the financial sector |
| topic | Finance-Environmental aspects |
| topic_facet | Finance-Environmental aspects |
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