The Accelerator for Systemic Risk Assessment (ASRA) aims to improve the understanding and management of systemic risks in financial markets, seeking to foster a coordinated approach to risk assessment and enhance financial stability worldwide. It has appointed new members to its steering committee. This includes representation from the UK through Professor Tim Lenton, Chair in Climate Change and Earth System Science, University of Exeter.
The ASRA has grown its membership to practitioners from 26 countries worldwide in the past year. Network members have co-developed a set of Principles for Systemic Risk Assessment and Response to shape and guide ASRA’s transformative work. The publication outlines several fundamental principles, including a holistic approach, interconnectedness, data-driven analysis, scenario-based modeling, and global impact. The committee advocates that the principles can act as a powerful diagnostic tool to identify improvements for current practices or approaches to risk analysis.