Climate Biennial Exploratory Scenario: The results are out – what’s next for insurers?
01 Jun 2022
On Tuesday 24 May 2022, the Bank of England (BofE) published the results of the Climate Biennial Exploratory Scenario (CBES) which explored the financial risks posed by climate change for the largest UK banks and insurers.
In our latest newsflash, we cover the following areas:
- Key messages and results
- Opportunities for improvements in climate risk management
- Potential macroeconomic challenges to firms’ responses to climate risks
- Actions and next steps
At Hymans Robertson, we have been working with insurers on their scenario modelling, development of data provision, compliance with TCFD and other climate-related regulatory requirements, and setting net-zero transition strategies. If you are interested in any of these topics, or you would like to discuss climate change or any of the above further, please get in touch.