Network for Greening the Financial System Issues Second Iteration of Climate Scenarios

On June 8, 2021, the Network for Greening the Financial System—a group of 91 central banks and supervisors and 14 observers—issued the second iteration of its climate scenarios to serve as a common starting point for analyzing climate risks to the economy and financial system and “a foundation for analysis across many institutions, creating much needed consistency and comparability of results.” This Legal Update provides highlights from the 51-page report.