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This ¹û¶³Ó°Ôº Institute for Innovation and Public Purpose (IIPP)'s response is to the Bank of England’s discussion paper, The 2021 biennial exploratory scenario on the financial risks from climate change.

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This document is IIPP’s response to the Bank of England’s discussion paper, , which was published in December 2019. In this response, we commend the Bank of England for pioneering a material step forward in the supervisory management of climate-related financial risks. We also reflect upon several pressing questions raised by the discussion paper, which challenge the feasibility of achieving reliable and meaningful results whilst ensuring ease-of-implementation. We urge the Bank to critically assess whether scenario analysis approaches are able to stimulate material capital reallocation within the pressing timeframes remaining for climate mitigation and adaptation. This response was submitted to the Bank of England on 18 March 2020.

Authors

• Katie KedwardÌý´¥ÌýPolicy Fellow in Sustainable Finance, ¹û¶³Ó°Ôº Institute of Innovation and Public Purpose
• Josh Ryan-Collins | Head of Finance and Macroeconomics, Senior Research Fellow, ¹û¶³Ó°Ôº Institute of Innovation and Public Purpose
• Hugues Chenet | Honorary Senior Research Fellow, ¹û¶³Ó°Ôº Institute for Sustainable Resources