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stress testing
Participating banks noted that some of the scenarios chosen did not reflect extreme climate risks.
Kiwi supervisor reworked NGFS scenarios to add increased severity of physical and transition climate risks.
The green supervisory group predicted that anti-ESG litigation could taper off as climate change risks materialise.
Climate change is already affecting economic activity in both emerging and advanced economies, say the banks.
Separately, UK researchers have flagged possible bottlenecks for transition-critical minerals.
It follows a consultation earlier this year.
The move has been opposed by right-wing politicians.
Japan’s trade ministry closes feedback on human rights due diligence guide.
HKMA says it will look at developing a local green taxonomy.