Risk managers mull Basel-style climate standards
Risk Live: Splintered approach to stress-testing across jurisdictions “very, very worrying”, says risk expert
Risk managers are calling on global and national regulators to standardised climate stress tests, with some backing a prescriptive approach akin to the Basel Committee for Banking Standards’ Fundamental Review of the Trading Book, which governs banks’ regulatory capital for market risk.
“We need to get prescriptive,” said Navin Rauniar, co-chair of the Professional Risk Managers’ International Association’s Climate & ESG (environmental, social and governance) Risk Management Working Group.
“FRTB
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