Banks will have to undertake stress tests to measure their resilience to a broad range of scenarios, including “climate change financial risks,” the Australian Prudential Regulation Authority said in a statement on Friday.
Read more at The Age.
Major banks have to face climate stress tests, regulator says
Get serious on climate change risks. That's the message from Australia's banking regulator as it joined its counterparts in the United Kingdom, the Netherlands and Singapore in ramping up its surveillance of how ready financial institutions are to deal with climate change.
