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Rising tides: Climate risk stress tests and its implications for banks across Southeast Asia

Climate risk is expected to be a mainstay of future stress testing exercises among banks, amidst the growing awareness of environmental, social and governance (ESG) issues and the need for environmental assessments in risk management. Regulators across Southeast Asia have yet to define the scope, parameters and methodology components of climate risk  stress tests, however the European Central Bank's Climate Risk Stress Test (CST) presents an opportunity for banks to benchmark themselves against industry best practices in relation to climate risk stress tests and emissions data coverage. 

This publication (part of PwC's Risk and Regulatory Outlook 2022 series) explores what these developments mean for banks in Southeast Asia and serves as a call to action on adapting existing stress testing capabilities to meet the demands for data and credit risk modelling. It also highlights how banks can better position themselves to address the challenges of climate risk stress tests, as well as some practical steps they can take to set up a climate risk stress test production run.

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Andrew Chan

Andrew Chan

Partner, South East Asia's Sustainability and Climate Change Leader, PwC Malaysia

Tel: +60 (3) 2173 0348

Antonie Jagga

Antonie Jagga

Risk Consulting Leader, South East Asia Consulting, PwC Singapore

Tel: +65 9667 5825

Elaine Ng

Elaine Ng

Partner, Financial Services and Risk Assurance Services Leader, PwC Malaysia

Tel: +60 (12) 334 6243

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