Climate change and the cost of capital in developing countries: assessing the impact of climate risks on sovereign borrowing costs

Buhr, Bob / Ulrich Volz / Charles Donovan / Gerhard Kling / Yuen Lo / Victor Murinde / Natalie Pullin

London, Geneva: Imperial College London; SOAS University of London; UN Environment

This report represents the first systematic effort to assess the relationship between climate vulnerability, sovereign credit profiles, and the cost of capital in developing countries. Climate risks are multi-dimensional, covering a range of geophysical, social, and economic issues. The intensification of these risks and the degree to which they are accurately priced by financial markets are of increasing concern to global economic stability.

About the author

Volz, Ulrich



Further experts

Chan, Sander

Enviroment Policy 

Kuhn, Sascha

Social Psychologist 

Malerba, Daniele


Mathis, Okka Lou

Political Scientist 

Fuhrmann, Hanna


Yu, Lu

Agricultural Economist 

Aleksandrova, Mariya

Climate risk governance 

Grabert, Margarita

Environmental Economist 

Schiller, Armin von

Political Scientist 

Schwab, Jakob


Sommer, Christoph


Bauer, Steffen

Political scientist 

Berensmann, Kathrin


Brandi, Clara

Economist and Political Scientist 

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Environmental Researcher 

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Political Scientist 

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