The Bank of England wants to test the resilience of the financial sector in the face of climate shock

The Central Bank of England plans to carry out a climate resilience test for the financial sector in 2020. The aim is to assess the ability of banks and insurers to cope with climate change.

Called "biennial exploratory scenario", the test will enable the Bank of England to ensure the soundness of its financial system in the face of such an event. The test will also determine the preventive measures to be implemented in the occurrence of such an event.

The publication of the results is expected in 2021.