On 24 June 2022, the FCA updated its webpage on the Climate Financial Risk Forum (CFRF).

The webpage now includes a section, setting out climate scenario analysis.

The section sets out how, during session 2 of the forum, the CFRF scenario analysis working group started developing an online climate scenario analysis tool, and how, on 23 June 2022, the CRFR published a beta version of it. The tool generates a summary narrative description of climate-related risks and opportunities for a firm based on a set of pre-selected inputs (e.g. business activities models, products, risks of the firm). The narrative descriptions contained in the tool do not constitute financial or other professional advice and should not be relied upon as such.

The CFRF scenario analysis working group will continue to collect feedback from users on the beta version of the tool up to Q3 2022 and will update the tool to enhance content and reflect the latest Network for Greening the Financial System scenarios in Q1 2023. However, the FCA notes that, while it has convened and facilitated CFRF discussions, it does not accept liability for the views expressed in the session 2 guides.