Rischi ambientali e parametri ESG nella gestione delle banche

Banking regulation has recently been amended to consider ESG factors and to adapt the risk governance framework. Given the allocational role of banks within the financial system, the regulatory strategy is bound to have significant distributional impacts in favor of sustainable economic activities, in line with the European Union’s objective of promoting the transition towards a net-zero economy. The paper highlights the main issues arising from this regulatory approach and proposes solutions to\r\nsafeguard the financing needs of each borrower and to decouple banking regulation from economic policy choices.