NGFS’s climate stress tests bolstered by new macroeconomic modelling
NiGem model will help central banks better understand economic transmission channels
The Network for Greening the Financial System is partnering with the National Institute of Economic and Social Research to better design scenarios for climate stress tests.
The NIESR’s global macroeconomic model – known as NiGem – has been selected to join the NGFS’ modelling consortium, which creates scenarios to explore the transitional and physical impact of climate change.
The scenarios provide a common reference framework for central banks and financial supervisors when creating their own
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