A large bank wanted to further develop the quality and maturity of their climate-related disclosures in accordance with TCFD recommendations.
Aspect Advisory’s overall objective was to support the Bank with the review and analysis of their strategy for climate action and propose further development in line with TCFD’s reporting guidelines on climate action. Additionally, the Bank wanted to enhance their current Climate Stress Testing and Scenario Analysis.
This entailed assessing how climate-related risks affect the businesses under extreme scenarios. The Climate stress exercise looked at the bank’s resilience to climate risk and sought to expose vulnerabilities which could in the long term lead to insolvency. Aspect Advisory was also involved in the outlining of required ESG reporting to ensure compliance with TCFD recommendations
Conduct a Climate stress test exercise to assess the bank’s resilience to climate risk and further develop its current ESG strategy and action plan for climate action in accordance with TCFD recommendations.