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BoC and OSFI pilot project for banking and insurance sectors
Bank of Canada and the Office of the Superintendent of Financial Institutions pilot project to use climate change scenarios to better understand the risks to the financial system related to a transition to a low-carbon economy. The project aims to: i) build the climate scenario analysis capability of authorities and financial institutions, and support the Canadian financial sector in enhancing the disclosure of climate-related risks; ii) increase authorities' and financial institutions' understanding of the financial sector's potential exposure to risks associated with a transition to a low-carbon economy; and iii) improve authorities' understanding of financial institutions' governance and risk-management practices around climate-related risks and opportunities.
Publisher:
National Regulators
Release date:
Nov 2020
Country:
Canada
Type:
Consultative, discussion and issues paper
Topics:
Climate change
Sectors:
Banking, Insurance
Deadline for comments:
Dec 2020
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