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Scenarios in Action A progress report on global ...

Network for Greening the Financial System Technical documentScenarios in Action A progress report on global supervisory and central bank climate scenario exercisesOctober 2021 NGFS REPORT2 Analysis of the economic and financial impacts of climate change is fraught with challenges and uncertainty, and understanding how best to manage future climate-related risks requires a forward-looking approach. Against this background, scenario analysis is the pre-eminent tool that we have to size risks under a range of different future pathways. The hurdles to the delivery of effective scenario analysis are high, and they are being experienced not just by central banks and supervisors, but by actors across the whole financial system.

this report takes stock of the current state of play, setting out methodological and design choices and challenges. For the purposes of this report, 31 NGFS members across six continents volunteered to share information by way of a survey of their completed, in progress, or planned climate scenario analysis. To date, four of these exercises

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