NGFS unveils second set of climate change scenarios
New scenarios use NiGEM macro model and take much more granular approach, officials say
The Network for Greening the Financial Sector unveiled the second version of its scenarios that model climate change’s impact on global finance today (June 7).
NGFS chair Frank Elderson, a member of the European Central Bank’s governing council, and Bank of England official Sarah Breeden, presented the new scenarios. The NGFS officials said this represented a “huge step forward”.
They said the new approach incorporated a macroeconomic model, and had increased the number of reference scenarios
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