Last month, colleagues from Great Places’ Treasury and Environmental teams participated in a Climate Change Questionnaire that will feed into the Bank of England’s 2021 Biennial Exploratory Scenario (BES) – a key assessment of the financial risks from climate change.
The 2021 Climate BES tests the resilience of the UK financial system to climate related risks, and is mainly for banks and insurance companies.
As a customer of the banks we were asked to take part in this questionnaire about our strategy and risk management for climate change. Expertise in modelling climate-related risks is still in it’s early stages, so this exercise will develop the capabilities of the Bank of England in this area and in turn benefit financial institutions and organisations like Great Places.
Click here more information on the Bank of England’s 2021 Biennial Exploratory Scenario (BES).
