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Climate Change Stress Tests: Climate Biennial Exploratory Scenario (CBES) June Release Requirements – What You Need To Know

In News by Stephanie Brain

Climate Change Stress Tests: Climate Biennial Exploratory Scenario (CBES) June Release Requirements – What You Need To Know

The Bank of England’s Climate Biennial Exploratory Scenario (CBES) exercise has been published, with submissions required by the end of September 2021.

Climate change poses different risks to the stability of the financial system, particularly for the insurance and banking sectors. The CBES 2021 stress test will have a lasting effect on the way firms assess and manage physical and transitional climate risks.

PRA CBES, June directive
The CBES will require the largest UK life and general insurers, Lloyd’s syndicates, banks and building societies to assess the impacts of physical and transitional risk from climate change to identify gaps in firms’ risk management and data.

Banks and building societies: Barclays, HSBC, Lloyds, Royal Bank of Scotland, Santander UK, Standard Chartered and Nationwide Building Society; UK life and general insurers, Aviva, M&G, Legal & General, Phoenix, Scottish Widows, RSA, Direct Line, AXA, Allianz and AIG, as well as the top 10 selected Managing Agents at Lloyd’s are already well on with their preparations for undertaking the latest stress testing.

How we Take the Stress out of Stress Testing!


DOWNLOAD THE CBES 2021 GUIDE

– By giving you a clear understanding as to what data is available to support your CBES plan.

– Summarising the anticipated CBES expectations and setting out how our data complies.

– Leverage our industry expertise and learn how we are helping others.

How We Take the Stress out of Stress Testing!


DOWNLOAD THE CBES 2021 GUIDE

  • By giving you...

    a clear understanding as to what data is available to support your CBES plan.

  • Summarising the...

    anticipated CBES expectations and setting out how our data complies.

  • Leverage...

    our industry expertise and learn how we are helping others.

  • By giving you...

    a clear understanding as to what data is available to support your CBES plan.

  • Summarising the...

    anticipated CBES expectations and setting out how our data complies.

  • Leverage...

    our industry expertise and learn how we are working with others.

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