Publication:
Nature-Related Financial Risks in Brazil

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dc.contributor.authorCalice, Pietro
dc.contributor.authorDiaz Kalan, Federico
dc.contributor.authorMiguel, Faruk
dc.date.accessioned2021-08-26T18:55:28Z
dc.date.available2021-08-26T18:55:28Z
dc.date.issued2021-08
dc.description.abstractBiodiversity loss and associated economic costs are increasingly recognized as a source of financial risks. This paper explores how and to what extent Brazilian banks are exposed to the loss of biodiversity through their lending to non-financial corporates. The results suggest that such exposures are material. Forty-six percent of Brazilian banks’ non-financial corporate loan portfolio is concentrated in sectors highly or very highly dependent on one or more ecosystem services. Output losses associated with the collapse in ecosystem services could translate into a cumulative long-term increase in corporate nonperforming loans of 9 percentage points. Moreover, 15 percent of Brazilian banks’ corporate loan portfolio is to firms potentially operating in protected areas, which could increase to 25 percent should conservation gaps close, and 38 percent should all priority areas become protected. Finally, 7 percent of corporate loans are to firms for which environmental controversies have been recorded. While preliminary, the results have important policy implications for both Brazilian banks and Banco Central do Brasil.en
dc.identifierhttp://documents.worldbank.org/curated/en/105041629893776228/Nature-Related-Financial-Risks-in-Brazil
dc.identifier.doi10.1596/1813-9450-9759
dc.identifier.urihttps://hdl.handle.net/10986/36201
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 9759
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectBIODIVERSITY
dc.subjectFINANCE
dc.subjectFINANCIAL RISK
dc.subjectNATURAL DISASTER
dc.subjectECOSYSTEM SERVICES
dc.subjectCORPORATE BORROWING
dc.titleNature-Related Financial Risks in Brazilen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titleNature-Related Financial Risks in Brazil
okr.date.disclosure2021-08-25
okr.date.doiregistration2025-04-10T11:15:51.296132Z
okr.doctypePublications & Research
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://documents.worldbank.org/curated/en/105041629893776228/Nature-Related-Financial-Risks-in-Brazil
okr.guid462001643048840321
okr.guid105041629893776228
okr.identifier.doi10.1596/1813-9450-9759
okr.identifier.externaldocumentum090224b088900f48_1_0
okr.identifier.internaldocumentum33366396
okr.identifier.reportWPS9759
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/105041629893776228/pdf/Nature-Related-Financial-Risks-in-Brazil.pdfen
okr.region.administrativeLatin America & Caribbean
okr.region.countryBrazil
okr.topicEnvironment::Biodiversity
okr.topicEnvironment::Ecosystems and Natural Habitats
okr.topicEnvironment::Natural Disasters
okr.topicFinance and Financial Sector Development::Bankruptcy and Resolution of Financial Distress
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicFinance and Financial Sector Development::Insurance & Risk Mitigation
okr.unitFinance, Competitiveness and Innovation Global Practice
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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