Carney says supervisors must develop climate stress-testing

Bank of England governor Mark Carney

Supervisors must find ways of testing the resilience of the financial system to stresses caused by climate change, Mark Carney said in a speech on March 21.

“For supervisors, assessing strategic resilience will require climate-related stress-testing,” Carney told a conference in Brussels. “This involves linking high-level data-driven narratives on the evolution of physical and transition risks to quantitative metrics to measure the impact on the financial system.”

The Bank of England governor

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