BANKINGON 'GREEN SWANS'.

The article focuses on the efforts of central banks under the Network for Greening the Financial System (NGFS) to prepare the financial system for physical destruction of life and property, asset-value losses and increasing insurance premiums due to climate change. Topics discussed include the importance of the recognition of the existence of climate change risks, significance of the stress tests being conducted by some banks, and challenge posed by climate-risk assessments to the sector.