Annex 6: NGFS climate scenarios

6.1. The Network for Greening the Financial System (NGFS) [The NGFS consists of 66 central banks and supervisors as well 13 other institutions whose goals include the development of risk management tools related to climate change for broad, harmonized use within the financial system. Such tools include the modeling of distinct climate scenarios and subsequent projections of a wide range of macroeconomic and climate variables.], in partnership with an academic consortium [Potsdam Institute for Climate Impact Research (PIK), International Institute for Applied Systems Analysis (IIASA), University of Maryland (UMD), Climate Analytics (CA) and the Swiss Federal Institute of Technology in Zurich (ETHZ).], published a set of reference scenarios which generally fall into three categories: an orderly transition, a disorderly transition and a "hot house" world. Both of the transition scenarios are consistent with limiting global warming to below 2°C by 2070, while growing emissions in the "hot

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