The TCFD methodology is applied as interpreted by the NGFS guide for central banks. Specifically, we follow the four-pillar approach recommended by the TCFD, and take into account the impact of climate-related risks on our balance sheet as well as on our missions:
Governance: the Bank’s governance arrangements for climate-related risks and opportunities
Strategy: real and potential impacts of climate-related risks and opportunities for activities and actions taken to respond to these impacts
Risk management: processes used to identify assess and manage climate-related risks
Metrics and targets: metrics and targets used to assess and manage climate-related risks and opportunities
The report focuses on activities carried out by the Banque de France itself, referring to additional work at Eurosystem level where applicable
In its scope, the report is centred on climate risk management but may integrate elements relating to nature risk
It is a summary report, referring to more detailed publications where available
Metrics and targets associated with our objectives and actions: these metrics will be enhanced as our work advances and in accordance with data availability