However, as this funding option is available primarily to larger companies, this leaves the issue of SME finance. Let me now turn to the institutional design of banking union. For one thing, this project is also aimed at remedying political weaknesses in the supervision process.
Using the publicly available scenarios developed by the NGFS, companies should be able to begin to describe the resilience of their organizations and strategies based on different climate scenarios. The Bank is also working to bring this analysis home to Canada. Specifically, we are working to develop climate scenarios that reflect Canada’s realities for Canadian financial institutions to use.