NGFS VI - RD3

The NGFS scenarios have been established as an essential and widely applied resource for a range of applications from climate scenario analysis and stress-testing of central banks to alignment and risk-management exercises in the private sector. The fifth generation of scenarios have been published in November 2024. As per the 2-year scenario update cycle, the 2025 work progamme included specific activities to improve the usability and to streamline the processes of scenario and data production and dissemination, with the supervision of NGFS Members. The update of the scenario set in 2026 will integrate these modelling improvements. During the 2026 scenario development process, the scientific consortium will also engage with and receive further guidance from NGFS scenarios users, to provide a product in line with the needs of central banks and financial actors. Finally, further learning in 2026 will inform the definition of future framework improvements to be implemented in 2027.