Collaboration between European Central Bank, European Systemic Risk Board and DRMKC Risk Data Hub
The DRMKC Risk Data Hub supports with data and methodologies the identification of risk drivers that affects thousands of financial firms in the European Union (EU). The European Central Bank (ECB) and the European Systemic Risk Board (ESRB) published on the 1st of July 2021 the “Climate-related risk and financial stability”, a report that maps out prospective financial stability risks and establishes a detailed topology of physical and transition risks arising from climate change across regions, sectors and firms.
Forward-looking scenarios available in the DRMKC RDH from the JRC PESETA IV and physical risk analyses performed by the DRMKC RDH and based on flood hazard maps (EFFAS- European Flood Awareness System) and GHSL (Global Human Settlement Layer) are some of the inputs featured in the ECB/ESRB report.
The joint activity between the DRMKC and the ECB/ESRB establishes an important model of collaboration for further developing the analytical basis of EU financial system risk to climate change and for more targeted and effective policy action.