Approaches To Climate Risk Analysis In Fsaps
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Approaches To Climate Risk Analysis In Fsaps
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Author : Mr. Tobias Adrian
language : en
Publisher: International Monetary Fund
Release Date : 2022-07-14
Approaches To Climate Risk Analysis In Fsaps written by Mr. Tobias Adrian and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-07-14 with Business & Economics categories.
Climate change presents risks and opportunities for the real economies and financial sectors of the IMF’s global membership. Understanding the risks is key to prepare for a successful transition to a lower carbon global economy. This will unlock the many opportunities for technological progress and structural transformation along the path that financial sectors around the world will need to adapt to and support. This note lays out the IMF staff’s emerging approach to assessing the impact of climate change on banking sector stability risks conducted in the context of the IMF’s Financial Sector Assessment Program (FSAP). The note starts with a primer on climate change risk, both transition and physical, explaining some of the technical terms and concepts used in this work. It explains the approach to standard risk analysis in FSAPs, and how this would be modified in broad terms to incorporate climate risk. The note then discusses different approaches to the analysis of physical versus transition risk, their implications for the macro-economy and across sectors in the real economy and different geographies, and how all these effects map into the banking sector. The note illustrates concepts with examples of applications from recent FSAPs and takes note of the many challenges confronting this work, including data gaps and uncertainty regarding climate projections and long simulation horizons in conducting the climate risk analysis. As such the note is focused on methods that IMF staff are deploying to raise awareness of the risks, and adaptation needs, including need for banks to develop tools to manage climate risks and for financial sector supervisory authorities to adequately supervise this risk.
New Approaches To Local Climate Change Risk Analysis
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Author : Åsa Gerger Swartling
language : en
Publisher: Frontiers Media SA
Release Date : 2023-12-12
New Approaches To Local Climate Change Risk Analysis written by Åsa Gerger Swartling and has been published by Frontiers Media SA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-12-12 with Science categories.
The JPI Climate – AXIS project “Unpacking climate impact CHAINs. A new generation of action – and user-oriented climate change risk assessments” (UNCHAIN) is approaching its end date (31.12.2022), and the project is looking for an opportunity to collect its remaining scientific publications into a Research Topic. The overall objective of UNCHAIN is to improve climate change risk assessment frameworks aimed at informed decision-making and climate change adaptation action through six methodological innovations: • To also cover the possible need for long-term and large-scale efforts of societal transformation; • To refine a structured method of co-production of knowledge and integrate this into impact modelling; • To develop and test an applicable framework for analyzing how societal change can affect local climate change vulnerabilities; • To develop and test a standardized analytical framework for addressing uncertainties involved in local decision-making on climate change adaptation; • To integrate the trans-national impacts of climate change; and, • To link mitigation and adaptation in climate risk and vulnerability assessments.
2021 Financial Sector Assessment Program Review Towards A More Stable And Sustainable Financial System
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2021-05-28
2021 Financial Sector Assessment Program Review Towards A More Stable And Sustainable Financial System written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-28 with Business & Economics categories.
The Financial Sector Assessment Program (FSAP) Provides In-Depth Assessments Of Financial Sectors. FSAPs Are Usually Conducted Jointly With The World Bank In Emerging Market And Developing Economies And By The Fund Alone In Advanced Economies. Fsaps Provide Valuable Analysis And Policy Recommendations For Surveillance And Capacity Development. Since The Program’s Inception, 157 Fund Members Have Undergone Individual Or Regional Fsaps. In Recent Years, The Fund Has Been Conducting 12–14 Fsaps Per Year At A Cost Of About 3 Percent Of The Fund’s Direct Spending.
2021 Financial Sector Assessment Program Review Background Paper On Quantitative Analysis
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2021-05-28
2021 Financial Sector Assessment Program Review Background Paper On Quantitative Analysis written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-28 with Business & Economics categories.
This paper reviews quantitative tools of financial stability assessments under the Financial Sector Assessment Program (FSAP). A key focus of FSAPs is on methodologies to gauge risks on a system-wide level and propose mitigating measures. Therefore, the paper concentrates on the main elements of the FSAP’s macroprudential stress testing framework:(i) the interaction among solvency, liquidity, and contagion risks in the banking sector, (ii) the assessment of the health of nonbank financial institutions (NBFIs), their interactions with banks and their impact on financial markets, (iii) the assessment of the health of nonfinancial sectors and their links to the financial sector, and (iv) macroprudential policy analysis. The paper also reviews recent improvements in microprudential bank solvency stress testing—an important foundation for the macroprudential stress testing framework—and discusses new tools for emerging risks (climate change, fintech, and cyber).
2021 Financial Sector Assessment Program Review Background Paper On Scope
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2021-06
2021 Financial Sector Assessment Program Review Background Paper On Scope written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06 with Business & Economics categories.
This background paper reviews the development of the scope of financial stability assessments under the FSAP since the 2014 FSAP Review. The paper summarizes past experiences of such adaptation and observed trends with respect to the coverage of specific topics and then discusses possible directions to adjust the scope of future FSAPs over the next five years given the likely changes in the financial stability landscape. The paper also discusses collaboration with the World Bank as it pertains to the scope of financial stability assessments. It does not examine issues such as analytical approaches, participation, and resources, which are covered elsewhere in the FSAP Review.
Japan Financial Sector Assessment Program Technical Note On Systemic Risk Analysis And Stress Testing
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Author : International Monetary Fund. Monetary and Capital Markets Department
language : en
Publisher: International Monetary Fund
Release Date : 2024-05-13
Japan Financial Sector Assessment Program Technical Note On Systemic Risk Analysis And Stress Testing written by International Monetary Fund. Monetary and Capital Markets Department and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-05-13 with Business & Economics categories.
The Japanese financial system has remained resilient through a series of shocks including the COVID-19 pandemic. Japan’s large and globally well-integrated financial system withstood the pandemic shock, aided by strong capital and liquidity buffers and extensive policy support. Credit provision to the private sector has remained robust since the pandemic, supporting a steady economic recovery.
Twelfth Periodic Monitoring Report On The Status Of Management Implementation Plans In Response To Board Endorsed Ieo Recommendations
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2022-11-30
Twelfth Periodic Monitoring Report On The Status Of Management Implementation Plans In Response To Board Endorsed Ieo Recommendations written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-11-30 with Business & Economics categories.
Twelfth Periodic Monitoring Report On The Status Of Management Implementation Plans In Response To Board-Endorsed IEO Recommendations
Global Economic Impacts Of Physical Climate Risks
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Author : Caterina Lepore
language : en
Publisher: International Monetary Fund
Release Date : 2023-09-08
Global Economic Impacts Of Physical Climate Risks written by Caterina Lepore and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-09-08 with Business & Economics categories.
This paper evaluates the global economic consequences of physical climate risks under two Shared Socioeconomic Pathways (SSP 1-2.6 and SSP 2-4.5) using firm-level evidence. Firstly, we estimate the historical sectoral productivity changes from chronic climate risks (gradual changes in temperature and precipitation) and extreme climate conditions (representative of heatwaves, coldwaves, droughts, and floods). Secondly, we produce forward-looking sectoral productivity changes for a global multisectoral sample of firms. For floods, these estimates account for the persistent productivity changes from the damage to firms’ physical capital. Thirdly, we assess the macroeconomic impact of these shocks within the global, multisectoral, intertemporal general equilibrium model: G-Cubed. The results indicate that, in the absence of additional adaptation relative to that already achieved by 2020, all the economies would experience substantial losses under the two climate scenarios and the losses would increase with global warming. The results can be useful for policymakers and practitioners interested in conducting climate risk analysis.
Delays In Climate Transition Can Increase Financial Tail Risks A Global Lesson From A Study In Mexico
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Author : Mr. Dimitrios Laliotis
language : en
Publisher: International Monetary Fund
Release Date : 2023-08-25
Delays In Climate Transition Can Increase Financial Tail Risks A Global Lesson From A Study In Mexico written by Mr. Dimitrios Laliotis and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-08-25 with Business & Economics categories.
This paper explores a novel forward-looking approach to study the financial stability implications of climate-related transition risks. We develop an integrated micro-macro framework with a new class of scenario called delayed-uncertain pathways. An additional stochastic financial modeling layer via a jump-diffusion process is considered to capture continuously changing risks, as well as the potential of large/sudden shocks in the financial markets. We applied this approach to study transition risks in the Mexican financial sector. But the implications are global in scope, and the framework is easily adaptable to other countries. We quantify the projections of future distributions of various risk metrics and, hence, the evolving tail risks due to compounding effects from delays in transitioning to a low-carbon economy and the consequent uncertainty of the future policy path. We find that the longer the delays in transition, the larger the future tail financial risks, which could be material to the overall system.
Japan
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Author : International Monetary Fund. Monetary and Capital Markets Department
language : en
Publisher: International Monetary Fund
Release Date : 2024-05-13
Japan written by International Monetary Fund. Monetary and Capital Markets Department and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-05-13 with Business & Economics categories.
The government of Japan has pledged to substantially reduce greenhouse gas (GHG) emissions in the coming decade. Japan is among the largest greenhouse gas emitting economies in the world exposing it to significant transition risk. Although Japan’s overall exposure to physical risk is considered as very high due to the changing climate and the impact of the predicted increase in the frequency and severity of natural catastrophes, its overall vulnerability to physical risks is relatively low because of its strong capacity to cope with such risks. In accordance with the United Nations Climate Change Convention, Japan has set an interim target to reduce GHG emissions by 46 percent from 2013 levels until 2030, with an objective of achieving net-zero GHG emissions by 2050. To realize this ambitious goal, Japan enacted the Green Transformation (GX) Promotion Act in May 2023 and laid out, based on the law, a comprehensive strategy to facilitate the transition to a net zero GHG economy.