SEOUL, The Bank of Korea (BOK) said Wednesday it plans to conduct a climate stress test on financial institutions, including banks and insurers, to prepare for impacts from climate risks on the sector. According to the central bank, the Financial Supervisory Service and 15 financial institutions, including eight insurers, will join the project. The climate stress test will help the financial sector better deal with potential impacts from climate risks on their operations and businesses. Details will be unveiled later this year, with the climate scenario to be mapped out for financial institutions in the future, the central bank said. Source: Yonhap News Agency