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Asia-Pacific

China Stress Tests Find Default Risks in High-emitting Sectors

Stranded assets, defaults in thermal power, steel and cement sectors may increase if companies do not shift to low-carbon alternatives.

The People’s Bank of China (PBOC) has revealed the results of its first phase of climate risk stress tests of major banks in the country. The stress testing was conducted from August to November 2021, with 23 major banks taking took part in the exercise – including two policy banks, six…

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