Climate Change and Sustainable Management: A Look at Regulation

The close interconnection between climate risk and sustainability on the one hand and the financial system on the other is now well established. Financial regula-tion is a central part of economic stability. The impact of negative events caused by environmental and climate change can have significant consequences for the real economy and the financial system. This relevant impact has been affirmed several times by financial regulators and supervisors and has led to set objectives and encourage practices in line with Environmental, Social, and Governance (ESG) issues in order to push both financial and nonfinancial firms towards a sustainable and circular economic model. The issue of climate risk change related to finance has launched a wide political debate at international and European levels and was deepened investigated in literature. What has not yet been fully clarified and needs to be further investigated, in our opinion, are the effects on financial intermediaries and the methodologies useful for quantifying them.The book is organized into two parts and five chapters. It includes theoretical parts and empirical analyses. The quantitative analyses are based on data stemming from the Insurance Focus Database of Bureau van Dijk, the Refinitiv ESG database of Thomson Reuters, and Cybersecurity Rating provided by BitSight.