INTERNATIONAL GREEN FINANCE CONFERENCE Budapest – 15 November 2019 Irene Heemskerk – NGFS Secretariat Banque de France
Climate change leads to financial risks Primarily physical risks Primarily transition risks Source: Netherlands Environmental Assessment Agency
First Progress Report – Oct 2018 NGFS Members acknowledge that climate-related risks are a source of financial risk. It is therefore within the mandates of Central Banks and Supervisors to ensure the financial system is resilient to these risks.
NGFS report “A call for action” - Six recommendations
NGFS: what’s next? Upcoming NGFS publications • Guide for integrating climate risks into supervision • Overview of Environmental Risk Analysis by financial institutions • Reference scenario’s & guidelines – analytical framework to assess the impact of climate related risks on the economy and the financial stability • What will the financial sector notice?
More information on: https://www.ngfs.net/en
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