NGFS scenarios

    ESG & Governance

    Climate scenarios published by the Network for Greening the Financial System, a group of central banks and supervisors, widely used for financial stress tests.

    The scenarios are grouped as orderly, disorderly, hot house world and too little, too late. In the Phase V set released in November 2024, Net Zero 2050 leads to about 1.35°C to 1.45°C of warming by 2100, while Current Policies leads to about 2.75°C to 3°C. NGFS cautions that its physical damage estimates have drawn academic criticism.

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