Publication of the REF 138 " Climate finance "

Every day global warming is becoming a more pressing concern for political decision-makers, but also for economic decision-makers. Finance is no exception to this rule, and in the last few years there have been some striking developments. To the extent that today we may speak of the existence of climate finance both because of the importance it has assumed in decisions about financing and because of the forms such financing takes. This issue of the Review provides a comprehensive overview of the changes taking place in the financial sector and of their recent evolution. Five main themes are covered: risk measurement and control from the point of view of both financial stability and portfolio management; climate finance practices and policies from the perspectives of companies and investors; climate finance indicators, which are essential for any action; and finally, the concrete practices of central banks and portfolio managers.

The column on financial history is devoted to the evolution of the government share spent on funding in education in Spain since 1850. Finally, one miscellaneous article deals with the ethical performance of Islamic banks and a second with the links between IPOs and the external growth of French SMEs.