International bodies

    Network for Greening the Financial System (NGFS)

    The network of central banks and supervisors that publishes the climate scenarios most widely used in financial stress tests.

    Official site

    Background

    The NGFS was launched in 2017. RBI is a member.

    Scope and powers

    The NGFS develops climate scenarios, such as orderly, disorderly and hot house world paths, now in their fifth phase. It also shares guidance on supervising climate risk.

    Investor relevance

    Bank stress tests, including RBI's 2022 pilot, and many corporate scenario analyses use NGFS scenarios.

    Related guides

    Key glossary terms

    Last reviewed: October 2026