Environmental reputation and bank liquidity: Evidence from climate transition
研究发现，在美国气候转型风险高的县，环境声誉差的银行会面临存款下降、抵押贷款减少和流动性创造减弱的问题，表明环境、社会和治理声誉是影响银行流动性的重要因素。
Abstract This study empirically investigates how a bank's nonfinancial signals of environmental reputation affect its deposits and credit provision in US counties with severe climate transition risks. We find that banks with higher reputational risks associated with environmental issues tend to experience declining deposits in counties exposed to severe climate change risks. Banks with a poor environmental reputation also reduce mortgage origination in such counties and diminish liquidity creation if they have high deposit shares in counties sensitive to climate transition. This study suggests that a bank's reputation regarding environmental, social and governance practices is an important underlying cause of bank liquidity in areas sensitive to climate change.