Is the green transition at risk? Investigating the effects of the pandemic on Green Bank Lending

  • Isabella Caroline Wladis (Student)

Student thesis: Master's Thesis


This thesis aims to analyze the relationship between bank lending and carbon dioxide (CO2)intensity and its implication on green bank lending. It also attempts to examine whether the COVID-19 pandemic has affected lending to low-carbon industries in any scope. Using bank by-bank data from 23 countries, 89 banks, and 19 industries in Europe for 2019 and 2020 Iexplore the interconnection between volume of loans and carbon intensity with a panel model regression setup. The analysis shows that lending outcomes are related to carbon risk in general. In addition, the pandemic has not affected lending to less-polluting industries.
Date of Award26 Jan 2023
Original languageEnglish
Awarding Institution
  • Universidade Católica Portuguesa
SupervisorDiana Bonfim (Supervisor) & Isabel Correia (Co-Supervisor)


  • Carbon risk
  • Transition risk
  • COVID-19
  • Green banking
  • Climate finance


  • Mestrado em Economia

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