BoE outlines climate stress tests
The Bank of England published its climate stress-test scenarios today (June 8), outlining a novel exercise designed to assess how big financial firms will cope with the transition to net zero.
The ‘Climate Biennial Exploratory Scenario’ (CBES) is based around scenarios developed by the Network for Greening the Financial System, reflecting “early, late and no action” on climate change. As the BoE has previously stated, the test will be not be used to set capital requirements.
The test will
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