Based on the view that scenario analysis reflecting possible future climate conditions is useful for examining the risks to the financial system, the NGFS published a set of basic scenarios in 2020, which have subsequently been updated from time to time. Several central banks and financial supervisory authorities are currently conducting analyses of their financial system based on the NGFS scenarios.
Climate change is also one of the central topics of discussion at the G7 and G20. Concretely, discussions include the promotion of corporate disclosures based on the TCFD recommendations, the design of disclosure standards by the International Sustainability Standards Board (ISSB), and the importance of scenario-based financial system analyses.