Britain plans stress tests for banks on climate risks
The objective is to test the resilience of the largest banks and insurers to the physical and transition risks associated with different climate scenarios
18 December 2019 - 19:04
London — Britain’s banks, already subject to annual financial health checks, face being stress-tested for risks posed by climate change, the Bank of England (BOE) announced on Wednesday.
The BOE, whose outgoing governor Mark Carney will, from January, become the UN’s special envoy on climate action and finance, has published a discussion paper on what it has termed the 2021 Biennial Exploratory Scenario (BES) exercise...
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