Bank of Korea to conduct climate stress test workshops for banks and insurers, aiming to enhance sector-wide climate risk management capabilities
#YonhapInfomax #BankOfKorea #ClimateStressTest #FinancialInstitutions #RiskManagement #ClimateChangeScenario #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=63155

"The #BankOfEngland has been criticised for refusing to reveal the [#ClimateStressTest] results of lenders – including HSBC, Lloyds, NatWest and Barclays – in a move that has limited investors’ and campaigners’ ability to scrutinise their #climate preparedness.

It has also been under fire for failing to introduce climate capital requirements that would force lenders to put aside funds to counterbalance climate-exposed assets e.g.mortgages and loans to heavy polluters."

https://www.theguardian.com/business/2023/sep/24/stricter-tests-city-copes-climate-disasters

While our banks are not yet at the point of completing the climate stress test, the interpretation applied by central banks (#TCFD) is quite inadequate in measuring the risks posed by the climate crisis. I also agree #climatestresstest #climatecrisis #NGFS
https://www.energymonitor.ai/finance/risk-management/why-climate-stress-tests-are-not-fit-for-purpose/