기후리스크의 외부성에 대응한 예금보험기구의 역할
The Role of Deposit Insurance Agencies in Addressing the Externalities of Climate Risk
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초록
본고는 기후리스크에 대응하여 금융안정을 유지하면서 저탄소·친환경 경제로 효율적으로 이행하기 위해 예금보험기구가 활용할 수 있는 방안을 금융회사의 자산결정에 관한 이론모형을 설정하여 분석하였다. 주요 분석 결과는 다음과 같다. 첫째, 예금보험기구는 금융회사의 탄소배출 기업에 대한 대출 노출정도를 감안하여 예금보험료율을 조정할 수 있으며 이 경우 탄소배출 기업에 대한 대출이 효과적으로 줄어들 수 있다. 둘째, 예금보험료율을 통한 조절이 효과적이지 않은 경우 금융회사의 탄소배출 기업에 대한 대출 한도를 설정할 수 있다. 셋째, 예금보험료율 또는 대출감축 목표를 설정할 때 금융회사 차주 기업의 탄소배출량을 기준으로 함으로써 보다 효과적으로 탄소배출을 억제할 수 있다. 넷째, 경쟁도가 높은 금융시장에서는 예금보험료율을 완만한 속도로 조정하는 것이 바람직하다.
Abstract
This study established and analyzed a theoretical model concerning financial firms' asset selection to explore potential strategies deposit insurance institutions could employ to effectively transition to a low-carbon and environmentally friendly economy while maintaining financial stability in response to climate change. The main findings are as follows: First, deposit insurance institutions can adjust deposit insurance premium rates, taking into account the level of exposure of each financial firm to loans for carbon-emitting companies. In this case, financial firms have an immediate incentive to reduce loans to carbon-emitting companies. Second, limits on loans to carbon-emitting companies can be established when adjustments through loan interest rates prove ineffective. Third, basing deposit insurance premium rates or loan reduction goals on carbon emissions rather than the loan size of carbon-emitting companies can more effectively suppress carbon emissions. Fourth, gradually adjusting deposit insurance premium rates is desirable in highly competitive financial markets.
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