Climate Risk Landscape Report 2024

Robust scenario analysis is key to managing material climate risks for financial firms. NEDs can use this briefing to gain strategic insights, provide governance, and meet incoming regulatory expectations.

In May 2025, the Network for Greening the Financial System (NGFS) has released the first vintage of short-term scenarios - a tool for analysing the potential near-term impacts of climate policies and climate change on financial stability and economic resilience.

Prudential Regulation Authority (PRA) has issued a consultation paper CP 10/25 updating Supervisory Statement SS3/19 to clarify and strengthen supervisory expectations around how banks and insurers should identify, assess, govern and manage climate-related risks.