The Low-Down on Climate Stress-Test Pilots
The financial sector is increasingly aware of the importance of climate change. Indeed, it took a mere month for ACPR, the French authority responsible for the supervision of the banking and insurance sectors, to issue its hypothesis for climate stress-tests after the initiative was announced by François Villeroy de Galhau, France’s central bank governor in late 2019. Meanwhile, finance has moved greatly accelerating its integration of climate stakes. Initially offered on a voluntary basis, it is expected the ACPR and European regulatory institutions (EBA for banks, EIOPA for insurers) will likely make these climate stress-tests mandatory within a relatively short timeframe
Ksapa outlines in this briefing paper key learning from the recently published climate stress-test instructions for financial players to carry out simulations.
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