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Financial Risk Management and Climate Change Risk
The Experience in a Central Bank
Buch von Antonio Scalia
Sprache: Englisch

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Beschreibung
Financial risk management for institutional investors has recently grown in scope to include long-term sustainability considerations and climate change risk concerns. This book shows how a national central bank in the Eurosystem has adapted its financial risk management principles and practices against the background of non-conventional monetary policy measures and following the introduction of sustainability criteria, with a special role for carbon-neutrality. The topics covered include a market-based approach to evaluating credit risk, the development of an independent credit rating system, and the properties and limitations of agencies¿ sovereign ratings. Furthermore, the book analyzes the integration of sustainability principles into strategic asset allocation and describes the use of machine learning techniques for discerning the role of the E, S and G variables in equity returns. The authors also discuss the growth of the global green bond market and the greenium, as well as the sustainability indicators for large portfolios of corporate and government securities. Given its scope, the book will appeal to all professionals working in the field who would like to know the state-of-the-art in these areas.
Financial risk management for institutional investors has recently grown in scope to include long-term sustainability considerations and climate change risk concerns. This book shows how a national central bank in the Eurosystem has adapted its financial risk management principles and practices against the background of non-conventional monetary policy measures and following the introduction of sustainability criteria, with a special role for carbon-neutrality. The topics covered include a market-based approach to evaluating credit risk, the development of an independent credit rating system, and the properties and limitations of agencies¿ sovereign ratings. Furthermore, the book analyzes the integration of sustainability principles into strategic asset allocation and describes the use of machine learning techniques for discerning the role of the E, S and G variables in equity returns. The authors also discuss the growth of the global green bond market and the greenium, as well as the sustainability indicators for large portfolios of corporate and government securities. Given its scope, the book will appeal to all professionals working in the field who would like to know the state-of-the-art in these areas.
Über den Autor

Antonio Scalia is the Head of the Financial Risk Management Directorate at the Bank of Italy and a member of the ECB's Risk Management Committee. He earned the Laurea in Economics with honours from LUISS University in Rome, an M.Sc. in Economics from the LSE and a Ph.D. in Finance from the London Business School. He has published many articles on leading international economic and finance journals on issues including monetary policy implementation and bank regulation, the sovereign bond market, and the effectiveness of foreign exchange intervention.

Zusammenfassung

Reviews state-of-the-art ESG indicators for asset managers with numerical examples

Shows how to integrate sustainability criteria into asset management

Describes advanced financial risk management techniques for institutional investors

Inhaltsverzeichnis

Chapter 1. Financial Risk Management and Climate Change Risk.- Part 1. Monetary Policy and Financial Risk Management.- Chapter 2. The Cost of Unconventional Monetary Policy Measures. A Risk Manager's Perspective.- Chapter 3. The Eurosystem Collateral Framework and the Measures Introduced in Response to the Pandemic Emergency.- Chapter 4. Sovereign Ratings.- Chapter 5. The Bank of Italy's In-House Credit Assessment System for Non-Financial Firms.- Chapter 6. The Role of Rating Agencies: Implications for the Financial System and Central Banks' Efforts to Reduce their Reliance.- Chapter 7. The Incorporation of Climate Change Risk in the Eurosystem Monetary Policy Framework and the Decarbonisation of the Corporate Bond Portfolio.- Part 2. The Integration of Climate Change in Financial Risk Management.- Chapter 8. The Commitment to Sustainability in Financial Investments.- Chapter 9. The Strategic Allocation and Sustainability of Central Bank Investments.- Chapter 10. Machine Learning, ESG Indicators, and Sustainable Investment.- Chapter 11. The Global Green Bond Market.- Chapter 12. The Exposure of Investments to Climate and Environmental Risks.

Details
Erscheinungsjahr: 2023
Fachbereich: Volkswirtschaft
Genre: Wirtschaft
Rubrik: Recht & Wirtschaft
Medium: Buch
Seiten: 336
Reihe: Contributions to Finance and Accounting
Inhalt: xv
317 S.
23 s/w Illustr.
52 farbige Illustr.
317 p. 75 illus.
52 illus. in color.
ISBN-13: 9783031338816
ISBN-10: 3031338812
Sprache: Englisch
Ausstattung / Beilage: HC runder Rücken kaschiert
Einband: Gebunden
Redaktion: Scalia, Antonio
Herausgeber: Antonio Scalia
Auflage: 1st ed. 2023
Hersteller: Springer Nature Switzerland
Springer International Publishing
Contributions to Finance and Accounting
Maße: 241 x 160 x 24 mm
Von/Mit: Antonio Scalia
Erscheinungsdatum: 23.09.2023
Gewicht: 0,67 kg
preigu-id: 126864858
Über den Autor

Antonio Scalia is the Head of the Financial Risk Management Directorate at the Bank of Italy and a member of the ECB's Risk Management Committee. He earned the Laurea in Economics with honours from LUISS University in Rome, an M.Sc. in Economics from the LSE and a Ph.D. in Finance from the London Business School. He has published many articles on leading international economic and finance journals on issues including monetary policy implementation and bank regulation, the sovereign bond market, and the effectiveness of foreign exchange intervention.

Zusammenfassung

Reviews state-of-the-art ESG indicators for asset managers with numerical examples

Shows how to integrate sustainability criteria into asset management

Describes advanced financial risk management techniques for institutional investors

Inhaltsverzeichnis

Chapter 1. Financial Risk Management and Climate Change Risk.- Part 1. Monetary Policy and Financial Risk Management.- Chapter 2. The Cost of Unconventional Monetary Policy Measures. A Risk Manager's Perspective.- Chapter 3. The Eurosystem Collateral Framework and the Measures Introduced in Response to the Pandemic Emergency.- Chapter 4. Sovereign Ratings.- Chapter 5. The Bank of Italy's In-House Credit Assessment System for Non-Financial Firms.- Chapter 6. The Role of Rating Agencies: Implications for the Financial System and Central Banks' Efforts to Reduce their Reliance.- Chapter 7. The Incorporation of Climate Change Risk in the Eurosystem Monetary Policy Framework and the Decarbonisation of the Corporate Bond Portfolio.- Part 2. The Integration of Climate Change in Financial Risk Management.- Chapter 8. The Commitment to Sustainability in Financial Investments.- Chapter 9. The Strategic Allocation and Sustainability of Central Bank Investments.- Chapter 10. Machine Learning, ESG Indicators, and Sustainable Investment.- Chapter 11. The Global Green Bond Market.- Chapter 12. The Exposure of Investments to Climate and Environmental Risks.

Details
Erscheinungsjahr: 2023
Fachbereich: Volkswirtschaft
Genre: Wirtschaft
Rubrik: Recht & Wirtschaft
Medium: Buch
Seiten: 336
Reihe: Contributions to Finance and Accounting
Inhalt: xv
317 S.
23 s/w Illustr.
52 farbige Illustr.
317 p. 75 illus.
52 illus. in color.
ISBN-13: 9783031338816
ISBN-10: 3031338812
Sprache: Englisch
Ausstattung / Beilage: HC runder Rücken kaschiert
Einband: Gebunden
Redaktion: Scalia, Antonio
Herausgeber: Antonio Scalia
Auflage: 1st ed. 2023
Hersteller: Springer Nature Switzerland
Springer International Publishing
Contributions to Finance and Accounting
Maße: 241 x 160 x 24 mm
Von/Mit: Antonio Scalia
Erscheinungsdatum: 23.09.2023
Gewicht: 0,67 kg
preigu-id: 126864858
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