On 8 June 2021, the BoE published the “Climate Biennial Exploratory Scenario: Financial risks from Climate Change” (CBES), identifying climate change as a financial risk with a view to exploring its impact on the banking and insurance sectors. In this post we take a look at the CBES and its implications for banks and borrowers.
To read the full text of this blog post by Duane Morris attorneys Drew Salvest, Natalie Stewart and Rebecca Green, please visit the Duane Morris ESG Blog.