Sustainable markets and abnormal weather: Exploring the impact of climate risks on sustainable investing in Turkey
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Tarih
2024
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Peter Lang AG
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
Global warming, as a result of climate change, has important economic and financial effects on society. But these effects are not fully explored yet. The risks related to climate change are categorized into physical and transition risks. Since Turkey is one of the countries currently impacted by the physical dangers of climate change, the study's objective is to advance awareness of the financial effects of those risks. Specifically, this study explores how investor preferences and attitudes toward sustainable investments are affected by physical climate risks in the context of the Salience Theory. Physical climate risks are measured using temperature anomalies and precipitation anomalies. The trading volume of the BIST Sustainability Index is used as a proxy for sustainable investing. The results indicate that there is no relationship between abnormal weather and the trading volume of the BIST Sustainability Index, implying that abnormal weather does not lead to a change in investors' decisions. © 2023 Peter Lang Group AG, Lausanne. All rights reserved.
Açıklama
Anahtar Kelimeler
Climate change, Climate finance, Climate risk, Physical risk, Sustainability
Kaynak
Sustainable Finance: Challenges, Opportunities and Future Prospects
