Bridging the Gaps in Climate Policy

Bridging the Gaps in Climate Policy

The Bank of England launched the Bank’s Climate Biennial Exploratory Scenario exercise (CBES) in June 2019 to collaborate with the largest UK banks and insurers to gain a better understanding of climate risks. This video highlights the key aims of the CBES, helps understand the macroeconomic impacts of the shift to net zero and the implications of monetary policy.
Overview

The Bank of England had launched the Bank’s Climate Biennial Exploratory Scenario exercise (CBES) in June 2019 to collaborate with the largest UK Banks and insurers to gain a better understanding of climate risks. This exercise which combined finance and climate outcomes and consisted of 3 scenarios: no action, late action and early action and understand how physical and transition risks combine.

Key learning objectives:

  • Outline the key aims of the CBES

  • What are policy levers Understand the macroeconomic impacts of shift to net zero

  • Understand the implications of monetary policy

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Summary
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Expert
Sarah Breeden

Sarah Breeden

Sarah Breeden is the Executive Director for Financial Stability Strategy and Risk at the Bank of England. She is responsible for guarding the wider economy against damage from the financial system. Sarah has worked at the bank for 30 years, most recently as head of International Bank Supervision.

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