Translation. Region: Russian Federal
Source: Central Bank of Russia –
An important disclaimer is at the bottom of this article.
Bank of Russia offers to discuss, what risks does climate change create for the economy and financial markets and how to assess these risks.
Climate change, which is accompanied by increased heat, more frequent floods and droughts, is damaging human health, infrastructure, and agriculture, all of which inevitably pose risks to financial stability.
According to various estimates, Russia could potentially benefit from climate change if preventive measures are taken, but could also face damages of 1–2% of GDP annually, which would be most noticeable in certain regions and industries. Therefore, it is important to develop risk assessment tools, monitoring and disclosure of information on physical climate risks, improve stress testing and improve data quality.
Responses to the questions presented in the report for public consultation, as well as comments and suggestions on it, will be accepted until October 17, 2025 inclusive.
Preview photo: Alexander Ryumin / TASS
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