Late or insufficient action to tame climate change could impact some of the main benchmark rates significantly, the Bank of England (BoE) projected in its 2021 biennial exploratory scenario (BES) exercise.

The BES considers two pathways to net zero greenhouse gas emissions: an early action (EA) and a late action (LA) scenario. It also includes a no additional action (NAA) scenario.

Under the LA scenario – where governments rush to reach a 2050 net-zero target in just two decades – the sterling

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

#### Derivatives

###### SEC’s Gensler takes aim at Bloomberg’s BSBY index

Credit sensitive SOFR alternative has “many of the same flaws as Libor”, regulator says