Ecological, Societal, and Technological Risks and the Financial Sector

Today's financial sector faces multiple challenges stemming from ecological, societal, and technological risks such as climate change, mass migration, and cyber-attacks. However, these non-traditional risks are yet to be fully identified and measured, in order to ensure their successful management. This edited collection sheds light on the topic by examining the unique measurement and modelling challenges associated with each of these risks, the connectivity of non-traditional risks, and their interaction with finance. Specifically, it identifies and classifies evolving risks from outside (and inside) the financial system, explores approaches to assess and operationalize non-traditional risks in finance, and illustrates how they affect the financial system, thereby exploring the vulnerability of financial institutions and financial markets. Offering a comprehensive analysis of non-traditional finance risks, the authors provide the basis for developing appropriate risk management techniques. With new approaches to protect against ecological, societal, and technological threats to the financial sector, this edited collection will appeal to academics researching sustainability, development finance, and risk management, as well as policy-makers and practitioners within the banking sector.