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Archive » November 2023 » Has the language of banking changed in the light of climate expectations? An analysis of Italian banks

Has the language of banking changed in the light of climate expectations? An analysis of Italian banks

Marika Carboni, Gianluca Santilli
November 2023 - n. 11
Keywords: Clima, ambiente, vigilanza, banche, Bce, dichiarazione non finanziaria, informativa di terzo pilastro
Jel codes: G21, G28, Q54, Q56

The attention paid to climate issues has grown considerably in recent years. In this paper, we ask whether the supervisory expectations contained in the Ecb Guide on climate and environmental risks, published in November 2020, have led to a change in the language used in the texts of non-financial disclosures and third pillar disclosures of Italian banks. The results show that the language employed by banks has actually changed, highlighting the commitment of the banking sector to embrace the indications contained in the expectations. Future research could examine how banks actually behave with respect to this commitment, the causes of the alignment to the supervisory expectations and the impact of the alignment to the supervisory expectations on banks' performance.

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