BoE will not use climate stress tests to set capital buffers – Bailey
Andrew Bailey reveals new details of tests, with launch set for summer of 2021
The Bank of England is not planning to use the results of its climate stress tests to adjust regulated firms’ capital buffers, governor Andrew Bailey said today (November 9).
At a green finance conference in London, Bailey revealed the tests would be launched in June 2021. The launch had been set for this year, but the BoE paused its work on climate stress-testing to focus on the impact of Covid-19.
The BoE governor said next year’s stress tests would explore three different climate scenarios
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