The need for short-term scenarios for climate scenario analysis has grown rapidly in recent years as financial institutions acknowledge the necessity of integrating climate commitments into their short-term planning strategies and addressing climate risks in the near term.

This report, and the accompanying short-term climate scenarios tool, aim to identify short-term climate scenario narratives for financial use. It serves as a guide to help financial institutions understand the implications and drivers of a range of short-term shocks. This report is accompanied by an Excel-based visualization tool with new scenarios that explore a set of macroeconomic, transition, and physical risk shocks, allowing users to explore combinations of these three types of shocks. The report is developed for asset managers, insurers, bankers, and investors.