기업의 온실가스 배출과 신용공급에 관한 연구

This study conducts empirical analysis on the relationship between the level of carbon emissions and the amount of loans provided by financial institutions. The analysis reveals a positive relationship between carbon emissions and the loans amount for the entire sample period from 2011. However, when analyses are segmented based on the carbon credit plan periods, financial institutions are increasingly considering the level of carbon emissions negatively more and more. Furthermore, for short-term loans with a maturity of less than one year, it is found that there is a negative relationship between carbon emissions and the loan amount, especially in recent years. This result indicates that financial institutions have started incorporating carbon emission information into their credit decision-making processes. The study suggests, in terms of financial supervision, that reducing short-term loans abruptly, in terms of the level of carbon emissions, may lead to excessive concentration and system risks. Therefore, it is necessary to encourage a balanced credit reduction between long-term and short-term loans.