Transcription of Basel Committee on Banking Supervision
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Basel Committee on Banking Supervision
Basel Committee on Banking Supervision Climate-related risk drivers and their transmission channels April 2021 This publication is available on the BIS website ( ). Bank for International Settlements 2021. All rights reserved. Brief excerpts may be reproduced or translated provided the source is stated. ISBN 978-92-9259-472-5 (online) Climate-related risk drivers and their transmission channels iii Contents Glossary .. iv Executive Summary .. 1 1. Introduction .. 3 2. Climate-related risk drivers .. 5 The evolution of climate-related risks .. 5 Physical risk drivers .. 6 Transition risk drivers .. 7 Uncertainties related to climate risk drivers .. 9 3. Transmission channels .. 10 Usage of traditional financial risk categories to observe risks .. 10 Microeconomic transmission channels .. 11 Macroeconomic transmission channels .. 19 4. Geographical heterogeneity, amplifiers and mitigants.
Stranded asset Asset that at some time prior to the end of its economic life is no longer able to earn an economic return as a result of changes associated with the transition to a low-carbon economy (adapted from Carbon Tracker). Stress test The evaluation of a financial institution’s financial position under a severe but plausible scenario.
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