Research Archive
The Treatment Of Physical Climate Risks By Central Banks
This report analyses challenges, progress and future strategies for managing physical risks in India. Researchers advocate for a phased and proportional approach to mandatory standards to overcome capacity issues.
Climate-Related Infrastructure Failure Has Complex and Far-reaching Economic Impacts
Financial risk assessments underestimate climate impacts on infrastructure so this paper proposes a new methodology for improving evaluation of cascading impacts.
The Globalization of Climate Change
Climate economic models widely underestimate physical risks by ignoring global supply chain interconnections, which can potentially amplify GDP losses up to 30 times.
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.
Facilitating the Transition to Net Zero and Institutional Change at the Bank of England
The Bank of England’s new environmental remit has not catalysed the bold change to monetary policy needed to meet net-zero targets, say political economists in this paper.
Crisk: Measuring the Climate Risk Exposure of the Financial System
Economists have developed a market-based measure of the potential effect of transition risk on banks’ capitalisation which can be used to explore ‘severe but plausible’ climate scenarios.
Climate Risk Stress Tests Underestimate Potential Financial Sector Losses
Climate stress tests may significantly underestimate losses and should incorporate “severe but plausible” scenarios such as “green swan” and Minsky-type events, say researchers. …
A Common Path to Improve European Climate Risk Stress Testing and Scenarios Analysis
Survey results show banks are gaining valuable insights from climate risk stress tests, but improvements are needed to effectively manage those risks.
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