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NGFS adds 'too little, too late' climate scenario, drops 1.5°C model

The Central Banks and Supervisors Network for Greening the Financial System (NGFS) has updated its climate scenarios, adding one in which warming hits 2.3°C due to countries with net zero targets not taking sufficient action and dropping a 1.5°C-aligned model.

What next for climate scenarios? Part two

How will the next generation of climate scenarios differ from the first, Michael Hurley asks

What next for climate scenarios?

As criticisms grow of the first climate scenario models, what does the next generation need to look like, Michael Hurley asks

'We are aware of the criticism': The NGFS on its next phase of scenarios

The Network for Greening the Financial System is developing short-term climate scenarios and increased detail on sectoral impacts in response to feedback, Jean Boissinot and Martina Spaggiari tell Michael Hurley

NGFS unveils 'short-term' climate scenarios for prudential stress testing

A group of central bankers has published a framework for modelling physical and transition climate-related risks over three-to-five years, to be used for prudential stress testing and to "enable financial actors to properly assess the resilience of the financial sector".

NGFS publishes guidance amid rise in climate-related litigation cases

Network for Greening the Financial System (NGFS) has warned more climate-related litigation cases are on the horizon.

Central banks: we need better transition data to inform monetary policy

Central banks have called for a framework to help them determine which aspects of the climate transition are relevant to monetary policy, and better data to inform their decisions.

NGFS says it will heed call for more detailed climate scenarios

Respondents to a consultation on climate-related scenarios say they want more detail on sector-level impacts as well as extra guidance on using the scenarios - a call the group developing the scenarios said will be answered later this year.

NGFS looks to develop 'short-term' climate scenarios

We cannot ignore nature, warns German central bank

The profitability of banks will be put at risk if they continue to ignore nature-related risks, Deutsche Bundesbank's Sabine Mauderer warned,...