Research Archive

Thermometer reading 41 degrees centrigrade
Research| January 13, 2025

NGFS Long-term Scenarios for Central Banks and Supervisors – Phase 5

Latest NGFS scenarios show climate-induced economic losses up to four times greater than under previous modelling. Urgent action is needed as sluggish progress risks increasingly disruptive transition.

Published by Network for Greening the Financial System
Close-up of an elephant's face, centred on one eye
Research| January 22, 2024

Recommendations Toward the Development of Scenarios for Assessing Nature-Related Economic and Financial Risks

The Network for Greening the Financial System has published technical recommendations to guide central banks and supervisors in developing scenarios for nature-related economic and financial risks.

Published by Network for Greening the Financial System
A wind turbine emerges from low-lying mist
Research| December 12, 2023

NGFS Climate Scenarios for Central Banks and Supervisors: Phase 4

The NGFS has revised its climate scenarios to reflect the world’s more disorderly path to net zero, due to delayed climate policy action and persistently high emissions.

Published by Network for Greening the Financial System
A golden statue of Lady Justice against a blue sky
Research| September 19, 2023

Climate Related Litigation

Recent Trends and Developments

Climate litigation is “growing rapidly” and central banks should monitor associated financial risks, says the Network for the Greening of the Financial System.

Published by Network for Greening the Financial System
A person wades through floodwaters outside the Doge's Palace in Venice
Research| September 20, 2022

NGFS Scenarios for Central Banks and Supervisors

The NGFS has released the third iteration of their climate scenarios, updating them with the latest economic and climate data, current national policy commitments and improved modelling of physical risks. …

Published by Network for Greening the Financial System
A solar panel and a wind turbine against a blue sky
Research| September 15, 2022

Not Too Late

Confronting the Growing Odds of a Late and Disorderly Transition

This NGFS paper compares current fossil energy price increases to an involuntary price on carbon, arguing that they offer a “narrow but unique opportunity” to accelerate the transition to net zero.

Published by Network for Greening the Financial System
Four adults and a child stand in floodwaters in a Bangladeshi village
Research| September 1, 2022

Acute Climate Risks in the Financial System

Examining the Utility of Climate Model Projections

This paper finds that top-down climate risk approaches, such as those used by the NGFS, are of limited value at the granular scale relevant to the financial sector.

Published by A J Pitman et al
$100 bills spread out in a disordered fashion on a flat surface
Research| July 19, 2022

Sustainable Management of Central Banks’ Foreign Exchange Reserves

This paper explores the role central banks’ foreign exchange reserves portfolios can play in mobilising public sector investment to support the net-zero transition.

Published by Inspire
Six yellow notes pinned to a board, each featuring a hand-drawn graph
Research| July 13, 2022

NGFS: Final Report on Bridging Data Gaps

This final report from the NGFS’s workstream on data gaps reviews climate-related data availability, introduces a new directory of data sources and calls for consistent and comparable global disclosure standards and green taxonomies.

Published by Network for Greening the Financial System
Worker installing solar panels
Research| May 30, 2022

Capturing Risk Differentials from Climate-related Risks

This Network for Greening the Financial System report examines the case for overhauling central banks’ capital requirements and buffers based on climate considerations. …

Published by Network for Greening the Financial System
Aerial view of three tall power station chimneys, emitting smoke or steam
Research| May 23, 2022

Central Banks and Climate-related Disclosures

Applying the TCFD’s Recommendations

With a growing number of central banks applying the TCFD recommendations to their own portfolios, this paper suggests how such disclosures can be optimised.

Published by Inspire

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