ESMA launches Call for Evidence on climate risk stress testing for CCPs
Published By Europa [English], Wed, Feb 23, 2022 2:43 AM
ESMA, to support the EU's efforts in improving the financial sector’s resilience and contribution to sustainability, has started developing a climate risk stress testing framework tailored to the specificities of CCPs.
The call for evidence seeks stakeholders’ views on:
a proposed classification of climate risks relevant to CCPs;
the methodology to build an EU-wide climate risk stress testing framework for CCPs;
how to best calibrate this stress test; and
the current development of climate risk assessments by CCPs.
Climate change and the financial risks that come with it have, in recent times, encouraged policy makers and the financial services industry to consider the integration of environmental factors into their risk frameworks.
Next steps
We invite stakeholders, in particular professionals employed by clearing service providers and their members and counterparties, trade associations representing them, as well as professionals with climate risk expertise, to provide comments by 21 April 2022.
Further information:
Sarah
Press release distributed by Media Pigeon on behalf of Europa, on Feb 23, 2022. For more information subscribe and follow