Zrównoważone banki? Czynniki ESG w unijnych regulacjach mikroostrożnościowych

• Authors: Agnieszka Paulina Smoleńska

Title variants

EN

Sustainable banks? ESG factors in EU’s microprudential regulations

Abstracts

EN

The financial sector is highly affected by the spectre of climate change and other sustainability-related factors, as recognised by various global and EU policies. The 2015 Paris Agreement enshrines the signatories’ goal to make “finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development.” The European Union, since the European Commission’s 2018 Sustainable Finance Action Plan, has introduced an array of regulations intended to facilitate private investment in transition as well as to include ESG risk management in the prudential regulation. The article tracks and analyses the latter interventions with view to assess their coherence and to identify the potential long-term effects, in the context of the persistent barriers to the development of the Polish sustainable finance sector.

Keywords

EN

microprudential regulations; climate risks; European Banking; Authority; sustainable finance; European Green Deal

• Publisher: Kancelaria Sejmu / Chancellery of the Sejm
• Journal: Studia BAS
• Year: 2023
• Issue: 2(74)
• Pages: 67-88

Dates

published

2023

Contributors

author

Agnieszka Paulina Smoleńska

• Polska Akademia Nauk

• https://orcid.org/0000000177037686

References

• Armour J., Awrey D., Davies P., Enriques L., Gordon J.N., Mayer C., Payne J., Principles of Financial Regulation, Oxford University Press, Oxford 2016.
• Bendyk E., W Polsce, czyli wszędzie. Rzecz o upadku i przyszłości świata, Polityka, Warszawa 2020.
• Cherednychenko O., Rediscovering the Public/Private Divide in EU Private Law, „European Law Journal” 2020, t. 26, nr 1–2, https://doi.org/10.1111/eulj.12351.
• Diamond D.W., Dybvig P.H., Bank Runs, Deposit Insurance, and Liquidity, „Journal of Political Economy” 1983, t. 91, nr 3, https://doi.org/10.1086/261155.
• Dikau S., Robins N., Smoleńska A., van ’t Klooster J., Volz U., Net Zero Transition Plans: A Supervisory Playbook for Prudential Authorities, Grantham Research Institute on Climate Change and the Environment Report, 2022.
• Finance Watch, A Safer Transition for Fossil Banking: Quantifying Capital Needed to Reflect Transition Risk, 2022, https://www.finance-watch.org/publication/a-safer-transition-for-fossil-banking/.
• Grundmann S., The Banking Union Translated into (Private Law) Duties: Infrastructure and Rulebook, „European Business Organization Law Review” 2015, nr 16, https://doi.org/10.1007/s40804-015-0021-z.
• Gyura G., The Role of Prudential Requirements in Fostering Green Bond Markets: The Experience of Hungary [w:] Green Bonds: A European Endeavor, red. D. Ramos Muńoz, A. Smoleńska, Palgrave Macmillan 2023.
• Marcinkowska M., Próby włączenia ryzyka ESG do unijnych regulacji ostrożnościowych dla banków, „Bezpieczny Bank” 2022, t. 88, nr 3.
• Marcinkowska M., Standardy kapitałowe banków. Bazylejska Nowa Umowa Kapitałowa w polskich regulacjach nadzorczych, Regan Press, Gdańsk 2009.
• Niedziółka P., Zielona (r)ewolucja w polskiej bankowości, Difin, Warszawa 2021.
• Pasquini C., Discussion [w:] Green Bonds: A European Endeavor, red. D. Ramos Muńoz, A. Smoleńska, Palgrave Macmillan 2023.
• Pollman E., The Making and Meaning of ESG, „ECGI Law Working Paper” 2022, nr 659, https://ssrn.com/abstract=4219857.
• Semieniuk G., Holden P.B., Mercure J.F., Salas P., Pollitt H., Jobson K., Vercoulen P., Chewpreecha U., Edwards N.R., Vińuales J.E., Stranded Fossil-Fuel Assets Translate to Major Losses for Investors in Advanced Economies, „Nature Climate Change” 2022, nr 12, https://doi.org/10.1038/s41558-022-01356-y.
• Smoleńska A., Plany przejścia, czyli jak banki będą dążyć do osiągnięcia neutralności klimatycznej [w:] Zielone finanse w Polsce, red. L. Kotecki, Warszawa 2022.
• Smoleńska A., van ’t Klooster J., A Risky Bet: Climate Change and the EU’s Microprudential Framework for Banks, „Journal of Financial Regulation” 2022, t. 8, nr 1, https://doi.org/10.1093/jfr/fjac002.
• Stefaniak S., Ekspozycja na ryzyko. Finansowanie paliw kopalnych przez polskie banki a ryzyko osierocenia aktywów, „Instrat Policy Note” 2022, nr 3.
• Zamarioli L.H., Pauw P., König M., Chenet H., The Climate Consistency Goal and the Transformation of Global Finance, „Nature Climate Change” 2021, nr 11, https://doi.org/10.1038/s41558-021-01083-w.
• Zetzsche D.A., Anker-Sřrensen L., Regulating Sustainable Finance in the Dark, „European Business Organization Law Review” 2022, nr 23, https://doi.org/10.1007/s40804-021-00237-9.

Identifiers

DOI

10.31268/StudiaBAS.2023.12

Biblioteka Nauki

2230939