What is the response of bank foreign subsidiaries to climate policy in their host countries? This paper finds that global banks with high environmental performance increase their presence in countries after local authorities strengthen their climate-related actions. Through their foreign subsidiaries, these banks expand their credit by 4.6 percent following an increase of one-standard deviation in the host country’s climate policy index. Importantly...
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DETAILS
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2022/12/15
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Policy Research Working Paper
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WPS10266
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1
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2022/12/15
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Disclosed
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Global Bank Lending under Climate Policy
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Citation
Demirguc-Kunt,Asli; Pedraza Morales,Alvaro Enrique; Pulga,Fredy; Ruiz Ortega,Claudia.
Global Bank Lending under Climate Policy (English). Policy Research working paper ; no. WPS 10266 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/099355212152265521