Climate risk-related risk weightings are seen as inevitable as investors and supervisors scrutinise sector’s climate policies.
NGFS paper suggests applying a ‘double materiality’ approach to biodiversity loss, identifies knowledge gaps among central banks and regulators.
Central banks warn: 13% of global GDP would be at risk by end of century, even before accounting for severe weather events.
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.
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.
Technical documents outlines options for central banks to adjust their operational frameworks for monetary policy to account for climate-related risks.
New report of scenario analysis tools and methodologies assists to improve climate risk modelling.
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