Five asset managers appointed to manage S$1.8 billion under new mandates focused on climate change and the environment.
G7 leaders are not short of advice, nor lessons from local history.
Central banks warn: 13% of global GDP would be at risk by end of century, even before accounting for severe weather events.
Exercise aims to support more robust management of climate-related financial risks across the sector, says governor.
Oil and gas majors may be on the back foot this week, but they’re far from alone in needing to do more.
Swift progress needed on disclosures, global taxonomy, and transparent and quality-assured metrics, NGFS says.
New principle-based guidance for financial institutions introduces progressive system of transition categories, incorporates broader environmental outcomes.
Chinese central bank to allocate more green bonds to foreign exchange reserves; new catalogue of projects eligible for green bond issuance issued.
July paper will build on TCFD recommendations “to promote high-quality climate disclosures”.
Climate risks may be under-estimated due to lack of internal scenario analysis by financial institutions, warn central banks.
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