09/05/2025 (Agence Europe) – On Wednesday 7 May, the Network for Greening the Financial System (NGFS), which brings together 145 central banks and supervisory authorities, published its first ever short-term climate scenarios. These are designed to help financial institutions and supervisors understand how climate risks could evolve over the next three to five years, and to determine the capital reserves needed to contain these risks. “The NGFS short-term scenarios are an essential addition to the analytical toolbox for understanding climate-related macroeconomic and financial risks”, explained Livio Stracca, chair of the NGFS workstream “Scenario and Design Analysis” and deputy director general for financial stability at the European Central Bank. For more information: https://aeur.eu/f/gqr (AD)