Strengthening Financial Supervision in the Era of Climate Risks: Lessons for Climate Stress Tests.

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The OMFIF - Magyar Nemzeti Bank Financial Stability conference 2022, jointly hosted by Magyar Nemzeti Bank and OMFIF, brought together policy-makers from across public institutions, the private sector and researchers from around the world to provide insights on financial stability. 

On May 27, Irene Monasterolo, Professor of Climate Finance, EDHEC Business School, EDHEC-Risk Climate Impact Institute (ERCII), delivered a keynote lecture in the session "Sustainable finance and implications of climate change in financial risk analysis". The focus of this session was on the fine-tuning of climate risk scenarios and the problem of the lack of detailed data needed for analysis. The latter requires active steps on the part of the financial sector, governments and central banks to improve data availability.

Irene's presentation entitled "Strengthening financial supervision in the era of climate risks: lessons for climate stress tests" mostly focused on the relation between climate change and financial stability from an angle of financial risk.