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Global Banking Regulators Plan to Develop Short-Term Climate Scenarios
July 11, 2023The Network of Central Banks and Supervisors for Greening the Financial System (NGFS) is assembling a team of modelling experts to develop short-term climate scenarios that capture the adverse implications in the near term of disorderly climate transition efforts and natural disasters. In a Call for Expression of Interest published on May 24, 2023, the NGFS observed that short-term climate scenarios are intended to complement the NGFS’s existing framework of long-term climate scenarios, and will be based on detailed narratives and recommendations around scenario design, shocks, calibration and model implementation. The NGFS plans to commence developing scenarios in the third quarter of 2023.
