# List of references

Copernicus (2025), [Global Climate Highlights 2024](https://www.copernicus.eu/en/news/news/copernicus-global-climate-report-2024-confirms-last-year-warmest-record-first-ever-above#:~:text=The%20Copernicus%20Global%20Climate%20Highlights%20Report%202024%2C%20published,pre-industrial%20levels%20for%20the%20annual%20global%20average%20temperature.), The 2024 Annual Climate Summary.

Deutsche Bundesbank (2024a), [Climate-related disclosures by the Deutsche Bundesbank 2024](https://www.bundesbank.de/content/844900).

Deutsche Bundesbank (2024b), [Special chapter: Risks arising from an unexpected and immediate carbon price increase](https://publikationen.bundesbank.de/content/943200)

Deutsche Bundesbank (2022), [Climate change and climate policy: analyticalrequirements and options from a central bank perspective](https://www.bundesbank.de/content/884790), Monthly Report, January 2022.

ECB Governing Council (March 2024), [Changes to the operational framework for implementing monetary policy](https://www.ecb.europa.eu/press/pr/date/2024/html/ecb.pr240313~807e240020.en.html).

Eickmeier, S. and L. Petersen (2024), [The ECB's climate activities and public trust](https://www.bundesbank.de/dp-en/2024-43), Deutsche Bundesbank Discussion Paper No 43/2024.

Eickmeier, S., J. Quast and Y. Schüler (2024), [Macroeconomic and financial effects of natural disasters](https://www.bundesbank.de/dp-en/2024-45), Deutsche Bundesbank Discussion Paper No 45/2024.

Elderson, F. (2024), [Taking account of nature, naturally](https://www.ecb.europa.eu/press/key/date/2024/html/ecb.sp241119~3eeb812c74.en.html).

Fricke, D. and C. Meinerding (2024), [Who pays the greenium and why? A decomposition](https://www.bundesbank.de/dp-en/2024-41), Deutsche Bundesbank Discussion Paper No 41/2024.

Giovanardi, F., M. Kaldorf, L. Radke and F. Wicknig (Dezember 2023), [The preferential treatment of green bonds](https://doi.org/10.1016/j.red.2023.06.006), Review of Economic Dynamics.

Johnson, J. et al. (2021), [The Economic Case for Nature: A Global Earth-Economy Model to Assess Development Policy Pathways](https://openknowledge.worldbank.org/entities/publication/fcc11682-c752-51c4-a59f-0ab5cd40dc6f), Worldbank.

Kaldorf, M. and M. Rottner (2024), [Climate Minsky moments and endogenous financial crises](https://www.bundesbank.de/dp-en/2024-26), Deutsche Bundesbank Discussion Paper No 26/2024.

Kotz, M., E. Lis, F. Kuik and C. Nickel (2024), [Global warming and heat extremes to enhance inflationary pressures](https://www.nature.com/articles/s43247-023-01173-x), Communications Earth \& Environment.

Meinerding, C., A. Poinelli and Y. Schüler (2023), [Households' inflation expectations and concern about climate change](https://doi.org/10.1016/j.ejpoleco.2023.102451), European Journal of Political Economy.

Meinerding, C., Y. Schüler and P. Zhang (2023), [Shocks to transition risk](https://www.bundesbank.de/dp-en/2023-04), Deutsche Bundesbank Discussion Paper No 04/2023.

NGFS (2024a), [Climate change, the macroeconomy and monetary policy](https://www.ngfs.net/system/files/import/ngfs/medias/documents/ngfs_climate_change_macroeconomy_and_monetary_policy_-_final.pdf).

NGFS (November 2024b), [NGFS Climate Scenarios for central banks and supervisors -- Phase V](https://www.ngfs.net/en/publications-and-statistics/publications/ngfs-climate-scenarios-central-banks-and-supervisors-phase-v).

Shala, I. and B. Schumacher (March 2024), [The impact of natural disasters on banks' impairment flow -- Evidence from Germany](https://doi.org/10.1016/j.jclimf.2024.100031), Journal of Climate Finance.

Shi, M., Y. Zhang and C. Meinerding (2025), [The Impact of Climate Policies on Financial Markets: Evidence from the EU Carbon Border Adjustment Mechanism](https://www.bundesbank.de/dp-en/2025-14), Deutsche Bundesbank Discussion Paper No 14/2025.

Zhou, S. and F. van der Ploeg (2024), [Structural change and the climate risk premium](https://www.bundesbank.de/dp-en/2024-17), Deutsche Bundesbank Discussion Paper No 17/2024.