Conventional stress tests are based on data such as data of past business cycles and, building on previous analyses, can be performed with a reasonable degree of reliability. On the other hand, there is still insufficient data on climate change and related economic and financial variables, and there are no established integrated assessment models or risk measurement methods.
The motivation and willingness of staff to implement a strategy is one thing, but translating this strategy into measurable – and therefore reviewable – operational objectives is quite another. “What gets measured gets done” is a well-known maxim in the Anglo-Saxon management literature. This is why we are in the process of devising a cascading series of measurable indicators for our strategic goals.