Credit In 2019, DNB committed to a second phase of United Nations Environment Programme FI's Task Force on Climate-related Financial Disclosures banking pilot, which will run to mid-2020. In this Phase 2 pilot DNB will prioritise the power and renewables and oil, gas and offshore sectors. We expand on the scenario approach developed in United Nations Environment Programme FI's Task Force on Climate-related Financial Disclosures banking pilot Phase 1, and quantify climate risk in credit portfolios for climate scenarios with temperature increases of 1.5, 2 and 4 degrees Celsius. The scenarios describe a range of severe climate-related changes, against which we stress-test our portfolio resilience in the short, medium (2030) and long (2040) term.