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RiskFinPorto

The carbon bubble:

A carbon bubble is the overvaluation of companies which depend on fossil energy production. Such assets dwindle with fossil demand … the bubble pops

What is RiskFinPorto?

RiskFinPorto investigates the relevance and awareness of the Austrian finance sector for the transition to a low carbon economy and society. The project also examines the role of carbon disclosure and evaluates the financial risks of CO2–intensive assessments and opportunities for the Austrian capital market. RiskFinPorto identifies success factors and barriers for a low-carbon transition of financial markets frame recommendations for action addressed to political and financial market actors on national and international level.

Are financial market participants aware of their role,

their possibilities and their responsibility to facilitate the transition to a low carbon economy and society?

RiskFinPorto investigated this by …
  • analysing Austria’s financial market structure
  • identifying the risks for financial institutions posed by the transition to a low carbon economy and society
  • surveying the understanding of financial companies’ position and responsibility in the context of meeting the Paris agreement

Which climate policies exist

that foster carbon disclosure activities in the Austrian financial sector?

Regulation can help pull out of fossil investments. Especially while divestment is still considered a “mere” morale rather than fiduciary obligation.
RiskFinPorto took the following steps to inventorise and assess the regulative landscape:
  • Analysis of the different risks posed by climate change on the financial sector (legal as well as financial risks)
  • Evaluation of the relevance of carbon disclosure for achieving climate goals (divestment initiatives and growth numbers)
  • Examination of existing Austrian investment policies and foreseeable adjustments
  • Analysis of the different risks posed by climate change on the financial sector (legal as well as financial risks)
  • Evaluation of the relevance of carbon disclosure for achieving climate goals (divestment initiatives and growth numbers)
  • Examination of existing Austrian investment policies and foreseeable adjustments

Which methods exist to assess climate risks

within the financial sector?

RiskFinPorto
  • screened existing methods to assess climate risks for carbon disclosure within the financial sector
  • ensured that the analysed methods are of practical relevance and that they allow for an adequate implementation by the Austrian financial sector
  • provided an overview of different carbon policies of enterprises and the state of application

To what extent is the Austrian capital market currently exposed to climate risks?

Parts of a portfolio can be more exposed than others.
To answer this question, RiskFinPorto set out for:
  • Quantitative assessment of the current climate risks for the Austrian financial sector
  • Analysis of the potential impact of divestment in Austria

Which aspects aid or impede financial market players’ efforts to act in line with the Paris agreement?

If climate change gives you lemons, divest them and mix a climate-friendly portfolio!
To support players on the financial market in turning climate-resilient, RiskFinPorto
  • analysed success factors and barriers for the transition to a low carbon society and economy and the connection to the financial sector
  • identified measures and recommendation for policy makers and financial corporations to overcome existing barriers, in particular for the Austrian market
  • involved stakeholders for enhancing the practical usability of the project’s outcomes

Publications


RiskFinPorto – Leaving the bubble. Lose portfolio risk in 5 easy steps.

Poster presented at the Austrian Climate Day 2019 in Vienna.
Offenthaler, I.; Kunesch, S.; Glas, N.; GĂĽnsberg, G.; Rattay, W.; Schanda, R.; Monasterolo, I.; Lutz, V.; Schreiber, H. & Jorisch, D. (2019)

Mind the Gap. Relevance & Awareness of Financial Market Actors for the Low Carbon Transition.

RiskFinPorto – Working Paper No. 1
Glas, N.; Kunesch, S.; Offenthaler, I. & Leitner, M. (2020)

Consequences of the Paris Agreement and its implementation for the financial sector in Austria.
RiskFinPorto – Working Paper No. 2
Rattay, W.; GĂĽnsberg, G.; Schanda, R.; Jorisch, D.; Stadelmann, M. & Treis, M. (2019)

Counting Carbs. Methodological overview of current carbon accounting & disclosure approaches.
RiskFinPorto – Working Paper No. 3
Kunesch, S.; Schreiber, H., Glas, N. & Bacher, R. (2020)

Kohlenstoffrisiken für den österreichischen Finanzmarkt
(Carbon exposure. The Austrian state of the market.)
RiskFinPorto – Working Paper No. 4

Dörig, P.; Lutz, V.; Rattay, W.; Stadelmann, M.; Jorisch, D.; Kunesch, S. & Glas, N. (2020)

Barriers and opportunities to align finance to sustainability: Lessons learned from knowledge co-production in Austria.
Policy brief, forthcoming as working paper in the WU epublication series.
Monasterolo, I. & Leitner, M. (2020)

Presentations

1st stakeholder workshop (Vienna, Nov. 30, 2018)

presentations and documentation pdf, 4.0 MB

Leaving the Bubble

Scientific poster at the Austrian Climate Day 2019 pdf, 1.2 MB

Reports & working papers

Interim Report

Interim project report 2019 pdf, 0.005 MB

Project consortium

Logos of project partners

Offenlegung

Medieninhaber
Green Alpha GmbH
Unternehmensgegenstand
Dienstleistungen im Bereich der Datenverarbeitung, Werbung, Marketing, Public Relations und ESG (Environmetal, Socila & Governance), vor allem unter dem Gesichtspunkt der Nachhaltigkeit
Sitz
Gottfried Kellergasse 2/3+4, 1030 Wien
grundlegende Richtung des Mediums
Information über das Forschungsprojekt RiskFinPorto (Klimawandelrisiken für Akteure am (österreichischen) Finanzmarkt
vertretungsbefugte Organe
Geschäftsführer Herr Wolfgang RATTAY, alleinvertretungsberechtigt
Gesellschafter
Herr Wolfgang RATTAY (Anteil 100%)