Climate risk models not up to scratch, warns BIS report

The Bank for International Settlements, Basel
Photo: Ulrich Roth

Extreme temperatures, hurricanes, tsunamis and other catastrophic events linked to climate change could soon be commonplace. But according to a new report published by the Bank for International Settlements, climate-economic models are not well-equipped to assess the risks.

In a new comprehensive study, senior officials from the BIS and the Banque de France, in conjunction with Amundi, claim existing climate-economic models “cannot anticipate accurately enough the form that climate risks will

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