Climate risks, energy efficiency and mortgage lending

气候风险、能源效率和抵押贷款

• 批准号: 2888633
• 金额: --
• 依托单位: Royal Holloway University of London
• 依托单位国家: 英国
• 项目类别: Studentship
• 财政年份: 2023
• 资助国家: 英国
• 起止时间: 2023 至 无数据
• 项目状态: 未结题
• 来源: https://gtr.ukri.org/projects?ref=studentship-2888633
• 关键词: Climate; risks; energy; efficiency; mortgage

The aim of the project is to advance our understanding of the financial risk posed by the physical changes from Climate Change, i.e. changing weather and temperatures, and of green policies accompanying the transition to net zero. The project focuses on risks in the housing and mortgage markets in the UK. The project aims to deliver high-quality research output that quantifies these climate-related risks in mortgage lending. Using unique microdata, we will investigate how i) changing heating and cooling demands, ii) energy costs, and iii) efficiency standard setting affect house prices and mortgage default rates. The empirical results will be used to simulate the impact of currently proposed green policies and climate-related weather events on aggregated risk in the mortgage market and to the BoE's balance sheet. The ensuing financial risks in the mortgage market, and how to manage and mitigate them, have received little attention so far.

该项目的目的是加深我们对气候变化物理变化（即天气和温度变化）所带来的金融风险的理解，以及对伴随向净零过渡的绿色政策的理解。该项目重点关注英国住房和抵押贷款市场的风险。该项目旨在提供高质量的研究成果，量化抵押贷款中与气候相关的风险。使用独特的微观数据，我们将研究 i) 变化的供暖和制冷需求，ii) 能源成本，以及 iii) 效率标准设定如何影响房价和抵押贷款违约率。实证结果将用于模拟当前拟议的绿色政策和气候相关天气事件对抵押贷款市场总体风险和英国央行资产负债表的影响。迄今为止，抵押贷款市场随之而来的金融风险以及如何管理和缓解这些风险很少受到关注。