中亚学院：气候变化对银行系统韧性的冲击：哈萨克斯坦和吉尔吉斯共和国的案例（英文版）

Climate change poses a multifaceted threat to financial stability, particularly in emerging economies. This study examines the impact of physical and transition climate risks on the banking systems of Kazakhstan and Kyrgyzstan. The analysis extrapolates historical data and projections through 2050, demonstrating that these risks directly affect credit portfolios by weakening credit quality and increasing default rates. Furthermore, the transition to a low-carbon economy generates transition r