Canada launches climate risk scenario pilot

Bank of Canada facade

The Bank of Canada and the country’s financial regulator have launched a joint project to explore how financial institutions may be affected under different climate change scenarios.

The BoC and Office of the Superintendent of Financial Institutions (Osfi) said they would pilot climate scenario analysis tailored to the Canadian financial system.

Based on a set of scenarios the regulators will develop, a group of financial firms will undergo testing to explore how well they can withstand the

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