İklim Dayanıklılığının Bankaların Finansal Sağlamlığı Üzerindeki Etkisi

Abstract

Sanayi Devrimi’yle artan üretim ve tüketim kaynaklı küresel ticaret hacmi, sosyoekonomik çevre üzerinde olumsuz etkiler yaratmıştır. İklim risklerine yanıt olarak küreselleşen sanayi, sürdürülebilir ve yeşil finansal yöntemler aramaktadır. Sürdürülebilir finansal istikrar için iklim değişikliği riskleri göz önünde bulundurulmalı, finansal sistemler regülasyonlarını yasal çerçevelerle sınırlandırmalıdır. Bu bağlamda çalışmanın temel amacı, ülkelerin iklim değişikliğinin olumsuz etkilerine karşı dayanıklılık ve uyum kapasitesinin bankacılık sektörünün istikrarı üzerindeki etkisini incelemektir. Bu amaç doğrultusunda kurulan modelde bankaların finansal istikrarını temsilen banka Z skoru bağımlı değişken olarak kullanılırken bağımsız değişken olarak da iklim dayanıklılık indeksi (CRI), karbon emisyonu (CO2), ekonomik büyüme (GDPG), ekonomik özgürlük indeksi (EFI) ve siyasi istikrar ve şiddetin/terörizmin yokluğu (PS) değişkenleri kullanılmıştır. Heterojenliği ve yatay kesit bağımlılığını dikkate alan modern tahmincilerden olan AMG testi 96 ülkeyi kapsayan geniş bir panel üzerinde uygulanmıştır. Analiz bulgularına göre ülkelerin iklim değişikliğine karşı dayanıklı ve hazırlıklı olma düzeyleri bankacılık sektörünün istikrarına olumlu yansımaktadır. Ekonomik büyümenin de bankacılık sektörünün finansal istikrarını iyileştirici bir etkiye sahip olduğu tespit edilmiştir.

Keywords

• İklim Dayanıklılığı
• Finansal İstikrar
• AMG

The Impact of Climate Resilience on Banks’ Financial Stability

Abstract

The increasing volume of global trade driven by production and consumption following the Industrial Revolution has negatively impacted the socioeconomic environment. In response to climate risks, the globalized industry is seeking sustainable and green financial methods. For sustainable financial stability, climate change risks must be considered, and financial systems must limit their regulations within legal frameworks. In this context, the primary objective of this study is to examine the impact of countries' resilience and adaptation capacity to the adverse impacts of climate change on the stability of the banking sector. In the model constructed for this purpose, the bank Z-score is used as the dependent variable representing banks' financial stability, while the climate resilience index (CRI), carbon emissions (CO2), economic growth (GDPG), economic freedom index (EFI), and political stability and absence of violence/terrorism (PS) are used as independent variables. The AMG test, a modern estimator that takes into account heterogeneity and cross-sectional dependence, was applied to a large panel of 96 countries. The analysis findings indicate that countries' resilience and adaptation capacity to climate change positively impact the stability of the banking sector. Economic growth has also been found to have an improving effect on the financial stability of the banking sector.

Keywords

• Climate Resilience
• Financial Stability
• AMG

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