The Results Are In! France’s ACPR Publishes Report Of 2020 Pilot Climate Risk Assessment (AKA Stress Test) For Participating French Banks And Insurers
On May 4, 2021, the Autorité de contrôle prudentiel et de résolution (“ACPR” – the French Prudential Supervision and Resolution Authority) published a first assessment of financial risks stemming from climate change and the main results of a climate pilot exercise (which many have referred to as a climate risk “stress” test) conducted between July 2020 and April 2021 and covering 9 banking groups and 15 insurance groups (including several public sector financial institutions), together representing 85% of French banks’ total assets and 75% of French insurers’ technical provisions and assets, respectively.
Continue reading on MayerBrown.com for more details on the objectives and features of the pilot exercise, as well as additional work required.
The post The Results Are In! France’s ACPR Publishes Report Of 2020 Pilot Climate Risk Assessment (AKA Stress Test) For Participating French Banks And Insurers appeared first on Eye on ESG.
