Nothing distils a highly complicated problem quite like a spreadsheet. This late 1970s computer creation has brought us the analysis of data using clearly defined metrics and mathematical formulae that offer the certainty of finding a right or wrong answer.
This has been music to the banking industry’s ears. But when central banks demand spreadsheets detailing the immense and largely speculative impact of both physical and transitional climate shocks on bank balance sheets, the enthusiasm starts to wane.
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