NGFS presents the third vintage of climate scenarios for forward looking climate risks assessment during two webinars on the 20th and 21th September.
The NGFS scenarios provide a framework to assess and manage climate-related risks, by exploring the transition and physical impacts of climate change, over a long time horizon and under varying assumptions. In this third vintage, the NGFS scenarios have been brought up to date with an updated Set of climate scenarios, including the most recent country-level climate commitments made at the COP26 in 2021, and the latest GDP and population pathways. Additionally, a technical analytical document on the “Climate Scenarios Sensitivity Analysis to Macroeconomic Policy Assumptions” and a guidance note summarizing “Practical Lessons for the Development of Climate Scenarios with Extreme Weather Events from Emerging Markets and Developing Economies” have been released as accompanying documents.
The NGFS scenarios were developed in partnership with an academic consortium including the Potsdam Institute for Climate Impact Research (PIK), the International Institute for Applied Systems Analysis (IIASA), the Center for Global Sustainability at the University of Maryland (UMD), Climate Analytics (CA), and the National Institute of Economic and Social Research (NIESR).
About the NGFS
The NGFS, launched at the Paris One Planet Summit on 12 December 2017, is a group of central banks and supervisors, which on a voluntary basis are willing to share best practices and contribute to the development of environment and climate risk management in the financial sector, and to mobilize mainstream finance to support the transition toward a sustainable economy. The NGFS brings together 116 central banks and supervisors and 19 observers. Together, they represent five continents and more than 85% of global greenhouse gas emissions, and are responsible for the supervision of all of the global systemically important banks and 80% of the internationally active insurance groups. The NGFS is chaired by Mr Ravi Menon, Managing Director of the Monetary Authority of Singapore. The Secretariat, headed by Mr Jean Boissinot, is provided by Banque de France.
For more details, visit the NGFS website and Twitter account.
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