Carney says supervisors must develop climate stress-testing
BoE is working with the NGFS to develop climate change scenarios as step toward stress-testing
Supervisors must find ways of testing the resilience of the financial system to stresses caused by climate change, Mark Carney said in a speech on March 21.
“For supervisors, assessing strategic resilience will require climate-related stress-testing,” Carney told a conference in Brussels. “This involves linking high-level data-driven narratives on the evolution of physical and transition risks to quantitative metrics to measure the impact on the financial system.”
The Bank of England governor
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