Bank of England: Financial risks from climate change imminent

The Bank of England (Bank) has today published the results of the Climate Biennial Exploratory Scenario (CBES), which explores the financial risks posed by climate change for the largest banks and insurers operating in the UK.

Key features of the CBES We asked banks and insurers participating in the Climate Biennial Exploratory Scenario (CBES) to use three scenarios to look at how climate-related risks could affect them. Two scenarios featured policies to limit global temperature rises (Early Action scenario and Late Action scenario), the third featured unchecked global warming (No Additional Action scenario). Each scenario examines the risks that could develop over a period of 30 years. The participating firms then modelled how their businesses could be affected in... ... More: Official Press Release Bank of England

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