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Results of the 2022 climate risk stress test of the Eurosystem balance sheet

Author

Listed:
  • Germann, Maximilian
  • Kusmierczyk, Piotr
  • Puyo, Christelle

Abstract

In 2022 the ECB conducted a climate risk stress test of some of the major financial exposures on the Eurosystem balance sheet. This box details the key features of the exercise and its main outcomes. JEL Classification: C53, C58, D81, E58, G32, Q54

Suggested Citation

  • Germann, Maximilian & Kusmierczyk, Piotr & Puyo, Christelle, 2023. "Results of the 2022 climate risk stress test of the Eurosystem balance sheet," Economic Bulletin Boxes, European Central Bank, vol. 2.
    • Handle: RePEc:ecb:ecbbox:2023:0002:6
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    File URL: https://www.ecb.europa.eu//pub/economic-bulletin/focus/2023/html/ecb.ebbox202302_06~0e721fa2e8.en.html
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    More about this item

    Keywords

    Climate change; climate risk scenarios; climate risk stress test; Eurosystem balance sheet; NGFS; physical risk; risk management; transition risk;
    All these keywords.

    JEL classification:

    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • C58 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Financial Econometrics
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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