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November 16, 2022

FSB, NGFS warn about ‘understated’ risk in climate scenarios

The Financial Stability Board and the Network for Greening the Financial System have published a joint report on the analyses undertaken by central banks and other financial authorities to assess climate-related financial risks, warning that, in many cases, these may be understated.

As part of the study, the FSB and NGFS surveyed 53 institutions from 36 jurisdictions part of their networks that have completed, are conducting or planning to conduct a climate scenario analysis exercise. The report considers analysis at the individual company’s level, at different financial sectors’ level, and the overall financial system level.

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