Environmental Hazards and Risk Management in the Financial Sector: A Systematic Literature Review

Miriam Breitenstein, Duc Khuong Nguyen, T. Walther

Research output: Working paperAcademic


We conduct a systematic literature review on environmental and climate related risk management in the financial sector. The systematic literature review identified a total of 36 relevant articles. A formal coding leads to the aggregation and classification of papers to three main categories that consider the impact of environmental concerns on financial risk, the current state of environmental risk practices in the finance sector, and lastly measures to assess those risks within financial institutions. Our results put forward the risk reduction for financial institutions which highly commit with environmental responsibility and performance. More importantly, investors’ increase in awareness and willingness to assess climate-related financial risk would incentivize corporate managers to adopt more proactive environmental policies and practices. These findings also allow for intriguing discussions about several alleys for future research.
Original languageEnglish
PublisherUniversity of St.Gallen School of Finance
Publication statusPublished - 2019
Externally publishedYes

Publication series

Name University of St.Gallen School of Finance Research Paper Series


Dive into the research topics of 'Environmental Hazards and Risk Management in the Financial Sector: A Systematic Literature Review'. Together they form a unique fingerprint.

Cite this