Regulators Urged To Widen Use Of Climate Stress Tests
By Irene Madongo (April 29, 2022, 2:49 PM BST) -- Financial watchdogs should expand their use of climate stress tests to help them better assess the effects of environment risks on the financial system, a global standard-setter said on Friday.
The Financial Stability Board said in a public consultation paper that the lack of sufficiently consistent and comparable climate information creates challenges for authorities when it comes to developing supervisory and regulatory approaches to risks that are linked to the environment.
Climate scenario analysis and stress tests have been a primary tool used by authorities to understand potential harms caused by shocks to the market, and are generally carried out in...
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