The Central Bank of Russia has opened a public consultation on draft recommendations for banks to stress test risks arising from the global transition from fossil fuels to renewable energy. The proposed framework is intended to help banks assess how resilient their credit portfolios are to transition climate risks, identify the most exposed borrowers and sectors, and account for possible effects such as new trade barriers to Russian exports. The Bank plans to develop macro-scenarios and provide them to banks for this exercise. Under the baseline scenario, no new climate policy measures are assumed and technological innovation is integrated slowly. The stress scenario assumes that countries progressively tighten climate policy and that this is accompanied by a faster worldwide phase-out of hydrocarbons.
Central Bank of Russia2026-06-22
Central Bank of Russia launches consultation on bank stress testing for transition climate risks
The Central Bank of Russia has launched a consultation on draft recommendations for banks to stress test transition climate risks linked to the global shift away from fossil fuels. The proposals are designed to help banks assess credit portfolio resilience and identify exposed borrowers and sectors. The Bank plans to provide macro-scenarios covering a baseline with no new climate measures and a stress case with tighter policies and a faster hydrocarbon phase-out.