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RBNZ eyes climate change stress test for banks, insurers

07/29/2021 | 04:35pm EDT

WELLINGTON, July 30 (Reuters) - The Reserve Bank of New Zealand (RBNZ) said on Friday it is exploring options to incorporate climate change into its stress testing for banks and insurers.

"Our 2021 stress test plan includes drought conditions in a bank stress test scenario and severe weather events in an insurance scenario," the Reserve Bank Assistant Governor Simone Robbers said in a opinion piece published on the bank's website.

Robbers said the bank is considering how to incorporate sustainability objectives into its balance sheet operations.

(Reporting by Praveen Menon Editing by Chris Reese)


© Reuters 2021
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