A First Assessment of Financial Risks Stemming from Climate Change: The Main Results of the 2020 Climate Pilot Exercise, has been released by the Banque De France.
This exercise in assessing the financial risks of climate change was conducted by ACPR to provide a first measurement of risks and vulnerabilities to which French financial institutions are exposed.
The study reports on:
- Transition risk: a rather moderate impact by 2050
- Physical risks: significant increase in claims by 2050
- Methodological lessons from an exercise with unprecedented characteristics