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
Books (2018)

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

Aleksandrova, Mariya

Climate risk governance 

Bauer, Steffen

Political scientist 

Brandi, Clara

Economy and Political Science 

Chan, Sander

Enviroment Policy 

Dafe, Florence

Social Scientist 

Dippel, Beatrice


Fuhrmann, Hanna


Hägele, Ramona

Political Scientist 

Iacobuta, Gabriela

Environmental Researcher 

Kuhn, Sascha

Social Psychology 

Lehmann, Ina

Political Scientist 

Malerba, Daniele


Mathis, Okka Lou

Political Scientist 

Never, Babette

Political Scientist 

Pegels, Anna


Rodríguez de Francisco, Jean Carlo

Ecological Economist 

Schiller, Armin von

Political Scientist 

Schwab, Jakob


Srigiri, Srinivasa Reddy

Agricultural Economist