RBNZ unveils climate stress-test scenario

New Zealand’s largest lenders will be tested on exposure to extreme weather and transition costs

The Reserve Bank of New Zealand
Photo: Rachael King

New Zealand’s central bank said it will assess big lenders’ exposure to climate risks using a scenario involving high transition costs and extreme weather events.

The climate stress test will use a scenario titled “Too Little, Too Late”, where countries around the world have delayed in enacting meaningful climate policies from now to 2050.

The participating lenders are ANZ, ASB, BNZ, KiwiBank and Westpac, the five largest banks in New Zealand. Together they hold 90% of the country’s bank loans

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