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Erschienen in:

2020 | OriginalPaper | Buchkapitel

11. Climate Change and Reputation in the Financial Services Sector

verfasst von : Robert E. Bopp

Erschienen in: Ecological, Societal, and Technological Risks and the Financial Sector

Verlag: Springer International Publishing

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Abstract

This contribution looks at the role climate change and reputation play in the financial services sector. It examines how reputation is defined (e.g., difference to brand or image) and which role climate change and its related risks (e.g., transition or physical) play. This is examined in the context of disclosure recommendations that are not yet obligatory but widely applied to inform about governance, strategy, and risk, as well as metrics and targets.

The hypothesis is that climate change-related risks magnify the effect of reputation risks. Financial institutions that provide products and services in accordance with the values on which they pretend to rely for doing business experience more positive consequences than those who provide products and services in a way that the consumer experiences a negative deviation compared to the reputation-based expectation. This gap in integrity, credibility, and trust is a risk that might become a subsistence threat. This chapter is crucial for financial institutions to stay relevant.

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Titel: Climate Change and Reputation in the Financial Services Sector
verfasst von: Robert E. Bopp
Verlag: Springer International Publishing
Buch: Ecological, Societal, and Technological Risks and the Financial Sector
Print ISBN: 978-3-030-38857-7

Electronic ISBN: 978-3-030-38858-4

Copyright-Jahr: 2020
DOI: https://doi.org/10.1007/978-3-030-38858-4_11