Schimbările climatice ca sursă de riscuri financiare și factor în dezvoltarea entităților

Abstract

Currently, the ongoing trend of global and national climate change directly affects the economy and the financial sector, influencing all aspects of human activity and generating significant economic losses. Moreover, uncertainty regarding the severity and timing of these losses constitutes a major source of financial risk. Climate related financial risks can compromise both economic growth and the stability of the financial system as a whole. Therefore, this article analyses the characteristics of two fundamental categories of climate risks: physical risks and translates risks. The paper describes how uncertainty regarding the magnitude, scope, and timing of economic damage translates into financial risk, negatively affecting the operations of financial markets and enterprises. The article also categorizes the economic and financial consequences of climate risks and concludes that periodic assessment and management of these risks are necessary at international, national, ant entity levels. Finally, concrete recommendations for minimizing financial risks associated with climate change are presented. This article is of interest to financial analysts, financial risk management specialists, and researchers studying climate change and economic sustainability. CZU: [005.915:005.334]:551.583(100+478); JEL: D81, M49, Q51, Q54, Q56