From Nicolas Lancesseur,
• Assessment of the pros/cons of using different reference scenarios and how they compare and relate to each other e.g. NGFS, CBES and IEA.
Scenarios that can serve as references for the market such as the ones developed by the NGFS or the IEA are extremely useful. However, allowing diversity in the models used or the assumptions made by the institutions is also important. Although common standards are necessary, institutions should keep the flexibility to adapt the scenarios or the model calibration to their own situation and their interpretation of their own climate risks.
We can imagine at some point the implementation of a review process by the regulators, to verify that this flexibility is used by institutions in good faith.
krzmip
commented
2 years ago
From Nicolas Lancesseur, • Assessment of the pros/cons of using different reference scenarios and how they compare and relate to each other e.g. NGFS, CBES and IEA. Scenarios that can serve as references for the market such as the ones developed by the NGFS or the IEA are extremely useful. However, allowing diversity in the models used or the assumptions made by the institutions is also important. Although common standards are necessary, institutions should keep the flexibility to adapt the scenarios or the model calibration to their own situation and their interpretation of their own climate risks. We can imagine at some point the implementation of a review process by the regulators, to verify that this flexibility is used by institutions in good faith.