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RBF numérique 2023/02

  • Lundi 20/2/2023
    Delobelle Lallemand

    In response to the shifting global political, social and economic landscape and the emergence of new and more serious risks, insurers have been forced to re-examine their role in society and make essential choices. Now more than ever, insurers must play their role as a buffer and safety net that guards against uncertainty. At the same time, the strategic choices they make can help shape the future of society. Increasingly aware of this social responsibility, insurers will be strategically focusing on sustainability and long-term thinking and reaching out to the various government authorities to tackle major challenges in society together. This was the key takeaway from the joint presentation by Philippe Lallemand and Heidi Delobelle, CEO of Ethias and AG Insurance, respectively, at the Financial Forum in Liège on 1 December 2022.

  • Lundi 20/2/2023
    Zachary Geraci Samarin

    We provide a brief overview of the impact that the low‑carbon transition is expected to have on financial markets. First, we summarise the latest research on the pricing of transition risks by financial markets and survey the literature on the greenium of stocks and bonds. Second, we examine the most recent regulatory developments relating to green finance at the European and Belgian levels, and briefly discuss the characteristics of the most‑used standards for green bonds. Finally, we turn to developments on the green bond market in Belgium and three neighbouring countries (Germany, France and the Netherlands). In this regard, we shed light on the supply and demand for these instruments, focusing on the issuance of green bonds by governments, financial institutions, and non‑financial corporations, and the uptake of such bonds by various economic agents (households, non‑financial corporations, monetary institutions, pension funds, and others).

  • Lundi 20/2/2023

    The ECB has published new climate-related indicators for the financial sector, in cooperation with the national central banks. These indicators provide information on the climate risks to which financial institutions are exposed, based on the corporate securities and loans in their portfolios. Indeed, the companies to which banks lend or whose securities they hold emit greenhouse gases and may face physical climate risks, such as flooding. In addition, the indicators estimate the share of green bonds in bank portfolios. In this blog, we explain why these climate-related indicators are important for the financial sector and society as a whole.

  • Lundi 20/2/2023

    2022 was a year of surprises, not only for investors but also for economists and politicians. The war in Ukraine unleashed hyperinflation, resulting in rising interest rates. These rising interest rates then caused a sharp drop in the stock- and bond market.

    What will it be in 2023? Will it be a continuation of last year’s malaise, or will it clear up so that 2023 will be a good year? Sven Sterckx, member of the Board of Directors of Dierickx Leys Private Bank, provides insight into the bank’s vision of the coming year.