NGFS Occasional PapersThe Green Scorpion : The Macro-Criticality of Nature for Finance

NGFS, December 2023

This technical report aims to build upon the work of Central Banks and supervisors, financial
institutions, the NGFS and the Taskforce on Nature-Related Financial Disclosures (TNFD) to date on
nature-related financial risks. It learns from the approaches of NGFS on climate scenarios to set out
a preliminary framework for the assessment of risks and the generation of nature-related scenarios
for financial risk assessment.

This report responds to a specific set of questions defined by the NGFS Task force Nature:
1. What can be learnt from the literature and existing work on climate and nature scenarios that could
form a basis for integrated climate-nature scenarios for Central Banks? (Section 2)
2. What would a typology of climate-nature shocks look like? (Section 3)
3. Can we develop a simple data-driven approach to screen key potential nature-climate shocks to
help prioritise which should be considered by a country, according to different countries’
characteristics? (Sections 4 and 5)

Download the full report here