The report calls on financial regulators to move “urgently and decisively” to measure, understand, and address the risks climate change poses to the US financial system.
A new NGFS workstream being created will identify missing data items needed for effective climate-related and environmental risk analysis.
The XPCC is considered by OFAC to be a paramilitary organisation with large commercial operations that that are likely to be impacted by US sanctions.
The voluntary code allows central banks to measure transparency, which the IMF says is necessary to facilitate accountability and enhance public trust and support.
Multiple layers of uncertainty on the course of climate change give rise to a lack of consistent data and methodologies for translating potential outcomes into financial exposure estimates.
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