Overview
- Reviews state-of-the-art ESG indicators for asset managers with numerical examples
- Shows how to integrate sustainability criteria into asset management
- Describes advanced financial risk management techniques for institutional investors
Part of the book series: Contributions to Finance and Accounting (CFA)
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About this book
Financial risk management for institutional investors has recently grown in scope to include long-term sustainability considerations and climate change risk concerns. This book shows how a national central bank in the Eurosystem has adapted its financial risk management principles and practices against the background of non-conventional monetary policy measures and following the introduction of sustainability criteria, with a special role for carbon-neutrality. The topics covered include a market-based approach to evaluating credit risk, the development of an independent credit rating system, and the properties and limitations of agencies’ sovereign ratings. Furthermore, the book analyzes the integration of sustainability principles into strategic asset allocation and describes the use of machine learning techniques for discerning the role of the E, S and G variables in equity returns. The authors also discuss the growth of the global green bond market and the greenium, as well as the sustainability indicators for large portfolios of corporate and government securities. Given its scope, the book will appeal to all professionals working in the field who would like to know the state-of-the-art in these areas.
Keywords
Table of contents (12 chapters)
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Front Matter
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Monetary Policy and Financial Risk Management
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Front Matter
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The Integration of Climate Change in Financial Risk Management
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Front Matter
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Back Matter
Editors and Affiliations
About the editor
Antonio Scalia is the Head of the Financial Risk Management Directorate at the Bank of Italy and a member of the ECB’s Risk Management Committee. He earned the Laurea in Economics with honours from LUISS University in Rome, an M.Sc. in Economics from the LSE and a Ph.D. in Finance from the London Business School. He has published many articles on leading international economic and finance journals on issues including monetary policy implementation and bank regulation, the sovereign bond market, and the effectiveness of foreign exchange intervention.
Bibliographic Information
Book Title: Financial Risk Management and Climate Change Risk
Book Subtitle: The Experience in a Central Bank
Editors: Antonio Scalia
Series Title: Contributions to Finance and Accounting
DOI: https://doi.org/10.1007/978-3-031-33882-3
Publisher: Springer Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2023
Hardcover ISBN: 978-3-031-33881-6Published: 23 September 2023
Softcover ISBN: 978-3-031-33884-7Due: 24 October 2023
eBook ISBN: 978-3-031-33882-3Published: 22 September 2023
Series ISSN: 2730-6038
Series E-ISSN: 2730-6046
Edition Number: 1
Number of Pages: XV, 317
Number of Illustrations: 23 b/w illustrations, 52 illustrations in colour
Topics: Macroeconomics/Monetary Economics//Financial Economics, Risk Management, Public Finance, Industrial Organization, Industrial Organization