Climate Change and Financial Stability

Posted: 22 Mar 2021 Last revised: 17 Jun 2021

See all articles by Celso Brunetti

Celso Brunetti

Board of Governors of the Federal Reserve System

Benjamin Dennis

Board of Governors of the Federal Reserve System

Dylan Gates

Board of Governors of the Federal Reserve System

Diana Hancock

Board of Governors of the Federal Reserve System

David Ignell

Federal Reserve Banks - Federal Reserve Bank of New York

Elizabeth K. Kiser

Board of Governors of the Federal Reserve System

Gurubala Kotta

Board of Governors of the Federal Reserve System

Anna Kovner

Federal Reserve Bank of New York

Richard J. Rosen

Federal Reserve Bank of Chicago - Economic Research

Nicholas Kean Tabor

Board of Governors of the Federal Reserve System

Date Written: March, 2021

Abstract

This Note describes how risks arising from climate change may affect financial stability. We describe how climate-change related risks may emerge either as shocks to the financial system or as financial system vulnerabilities that could amplify the effects of these or other shocks.

Suggested Citation

Brunetti, Celso and Dennis, Benjamin and Gates, Dylan and Hancock, Diana and Ignell, David and Kiser, Elizabeth K. and Kotta, Gurubala and Kovner, Anna and Rosen, Richard J. and Tabor, Nicholas, Climate Change and Financial Stability (March, 2021). Available at SSRN: https://ssrn.com/abstract=3843793 or http://dx.doi.org/10.17016/2380-7172.2893

Celso Brunetti (Contact Author)

Board of Governors of the Federal Reserve System ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

Benjamin Dennis

Board of Governors of the Federal Reserve System ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

Dylan Gates

Board of Governors of the Federal Reserve System ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

Diana Hancock

Board of Governors of the Federal Reserve System ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States
202-452-3019 (Phone)
202-452-5295 (Fax)

David Ignell

Federal Reserve Banks - Federal Reserve Bank of New York ( email )

33 Liberty Street
New York, NY 10045
United States

Elizabeth K. Kiser

Board of Governors of the Federal Reserve System ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

Gurubala Kotta

Board of Governors of the Federal Reserve System ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

Anna Kovner

Federal Reserve Bank of New York ( email )

33 Liberty Street
New York, NY 10045
United States

Richard J. Rosen

Federal Reserve Bank of Chicago - Economic Research ( email )

230 South LaSalle Street
Chicago, IL 60604
United States
312-322-6368 (Phone)
312-294-6262 (Fax)

Nicholas Tabor

Board of Governors of the Federal Reserve System ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

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