Here, S&P Global Ratings presents plausible long-term scenarios to help illustrate the potential impacts of climate change on credit transmission channels and ultimately on creditworthiness. We define three scenarios for climate transition risks, and four for physical climate risks, in line with Step 3 of our five-step process to assess the credit materiality of megatrends in "White Paper: Assessing How Megatrends May Influence Credit Ratings." We incorporate takeaways from climate scenario analyses we have conducted, with the aim of providing possible common ground for similar analyses in the future.