A bold step forward in climate-related financial risk supervision
Banque de France’s Denis Beau explains the results of a pilot exercise, and what comes next
The pilot exercise on climate risk conducted by France’s Autorité de Contrôle Prudentiel et de Résolution (ACPR) is unprecedented. It is the first time a supervisor has organised such a comprehensive and challenging exercise for the banking and insurance groups under its responsibility, to assess their exposure and potential responses to the transition and physical risks related to climate change
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