Banks and climate change: "the state of the art"

At present there is a strong call for the financial sector to assume a special role in dealing with the economics of climate change, as one of the greatest challenges to face. This is also due to the several and severe impacts the climate-related natural events have on the real economy and consequently on the financial system. In this respect, it is of utmost importance that all the financial intermediaries, banks in particular, are adequately prepared to tackle such threats: banks are therefore called to address new and detrimental risks, but also to exploit business opportunities in a context of changing climate.