# List of references

Arlt, S., C. Gross, O. Rehbein and I. Shala (2026), [Rising Waters, Falling Spreads: Climate Adaptation and Banks' Repricing of Disaster Risk,](https://dx.doi.org/10.2139/ssrn.6541278) SSRN.{#par-o142uo}

Avgousti, A. et al. (2023), [The climate change challenge and fiscal instruments and policies in the EU](https://doi.org/10.2866/850581%0A), European Central Bank Occasional Paper Series No 315.{#par-e52a87}

Baccianti, C., M. Baltzer, N. Boesel, D. Finck, T. Hagemann, L.-C. Kuntz, F. van der Meyden, C. Schlam, D. Schober, R. Unger, S. Wessels and M. A. Weth (2026), [Financing the transition to greenhouse gas neutrality: Is the German banking system prepared?](https://www.bundesbank.de/content/955600), Bundesbank Technical Paper No 01/2026.{#par-u151u4}

Burgert, M., M. Darracq Pariès, L. Durand, M. González, R. Priftis, O. Röhe, M. Rottner, E. Silgado-Gómez, N. Stähler and J. Varga (2025), [Macroeconomic effects of carbon-intensive energy price changes: A model comparison](https://www.ngfs.net/system/files/2025-09/NGFS_OP_Macroeconomic%20effects%20of%20carbon-intensive%20energy%20price%20changes.pdf), NGFS Occasional Paper.{#par-i5948i}

Deutsche Bundesbank (2021), [Financial Stability Review 2021](https://www.bundesbank.de/content/880192).{#par-e6aa73}

Deutsche Bundesbank (2023), [Financial Stability Review 2023](https://www.bundesbank.de/content/918848).{#par-a57483}

Deutsche Bundesbank (2024a), [Financial Stability Review 2024](https://publikationen.bundesbank.de/content/943034).{#par-ee311o}

Deutsche Bundesbank (2024b), [Climate-related disclosures by the Deutsche Bundesbank 2024](https://www.bundesbank.de/content/844900).{#par-i37233}

Deutsche Bundesbank (2026), [Monthly Report -- April 2026](https://publikationen.bundesbank.de/content/993254), April 2026.{#par-uu92i1}

ECB (2021), [Eurosystem agrees on common stance for climate change-related sustainable investments in non-monetary policy portfolios](https://www.ecb.europa.eu/press/pr/date/2021/html/ecb.pr210204_1~a720bc4f03.de.html). {#par-a45689}

ECB (2022), [ECB takes further steps to incorporate climate change into its monetary policy operations](https://www.ecb.europa.eu/press/pr/date/2022/html/ecb.pr220704~4f48a72462.en.html). {#par-u9796e}

ECB (2025), [The ECB's monetary policy strategy statement, point 10](https://www.ecb.europa.eu/mopo/strategy/strategy-review/ecb.strategyreview202506_strategy_statement.en.html).{#par-a6191e}

Eickmeier, S., J. Quast and Y. Schüler (2024), [Macroeconomic and financial effects of natural disasters](https://www.bundesbank.de/content/925504), Deutsche Bundesbank Discussion Paper No 45/2024.{#par-i2446i}

Hinterlang, N., A. Martin, O. Röhe, N. Stähler and J. Strobel (2023), [The Environmental Multi-Sector DSGE model EMuSe: A technical documentation](https://www.bundesbank.de/content/914846), Bundesbank Technical Paper, No 03/2023.{#par-u468a9}

Mauderer, S. (2026), [Preserving Stability in a Fragmented and Uncertain World](https://www.bundesbank.de/content/992342).{#par-a9993a}

Meinerding, C., Y. Schüler and P. Zhang (2024), [Consequences of transiting to a climate-neutral economy](https://www.bundesbank.de/content/765322), Deutsche Bundesbank Research Brief No 68, August 2024.{#par-o22e87}

NGFS (2020), [Overview of Environmental Risk Analysis by Financial Institutions](https://www.ngfs.net/system/files/import/ngfs/medias/documents/overview_of_environmental_risk_analysis_by_financial_institutions.pdf).{#par-u988i7}

NGFS (2024), [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).{#par-i1e118}

NGFS (2025a), [NGFS Short-Term Scenarios for central banks and supervisors](https://www.ngfs.net/system/files/2025-05/NGFS%20Short-term%20scenarios_Presentation_1.pdf).{#par-a4o8ua}

NGFS (2025b), [Integrating adaptation and resilience into transition plans](https://www.ngfs.net/en/publications-and-statistics/publications/ngfs-input-paper-integrating-adaptation-and-resilience-transition-plans).{#par-aiio96}

NGFS (2026), [Technical note on the economic and financial impacts of extreme weather events](https://www.ngfs.net/system/files/2026-05/NGFS_Note%20on%20extreme%20weather%20events.pdf).{#par-i1a55e}

Shala, I. and B. Schumacher (2022), [The impact of natural disasters on banks' impairment flow -- Evidence from Germany](https://www.bundesbank.de/content/897518), Deutsche Bundesbank Discussion paper No 36/2022.