While much progress has been made in climate scenario analysis, there remains a gap between ‘climate’ scenarios, such as those released by the NGFS, and the information that financial firms need to use the scenarios.
During this first installment of GARP’s 2021 Climate Risk Webcast series, we will be joined by an expert panel who will share their experience in developing the macroeconomic variables that banks need to understand how their portfolios could perform under different climate change scenarios.
You will also have the opportunity to engage with our panel as we open up Q&A towards the end of the session.
Through this event, you will learn about the gap between the NGFS scenarios and key economic variables required for risk modelling. Our panelists will also discuss how macroeconomic scenarios consistent with the NGFS climate scenarios can be created, and the work taking place to incorporate physical and transition climate shocks into NiGEM (National Institute Global Econometric Model).
- Learn about the models and judgements needed to create usable macroeconomic scenarios that are consistent with climate scenarios.
- Appreciate the scale of the challenges to make climate scenario analysis part of risk management.
- Through collaboration accelerate learning and gain insights from others working in this field.
Senior Vice President, GARP Risk Institute (GRI)
Maxine is a Senior Vice President at the GARP Risk Institute, GARP’s research and thought leadership arm, where she focusses on climate financial risk management. In her career, she has held senior banking roles where she was responsible for modelling and managing different financial risks, and for global capital planning. She also previously worked at the UK Financial Services Authority, where she was responsible for counterparty credit risk during the last financial crisis.
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