Republican senators condemn the Federal Reserve’s climate stress tests as politically motivated, demanding that chairman Jerome Powell “reign in the Fed’s regional banks”.

S&P Global has developed a dataset which will enable central banks to assess the financial risks associated with ecosystem decline.

In the wake of the Silicon Valley Bank collapse, the Fed has said a precautionary approach towards risk is needed. Will this be applied to climate-related risk, ask Anne Perrault and David Arkush of Public Citizen.

Denmark’s Nationalbank has released its first climate disclosure from parts of its foreign exchange reserve. …

Christopher Waller said he believes that the “risks posed by climate change are not sufficiently unique or material to merit special treatment”.

The proposed rules would require companies to disclose more climate-related information, such as scope emissions, risks related to climate change, and transition plans.

The currency and finance report noted that central banks have a role to play and that India needs to spend an estimated 85.6tn rupees by 2030 to adapt to climate change. …

Elderson says the EU is losing the “race against the clock” to close the climate finance gap, underlining the need for immediate action to align with the Paris Agreement.

Biden’s World Bank pick signals a potential shift on climate change for the lender, as Banga has long advocated that climate change and poverty cannot be separated. …

The Monetary Authority of Singapore and the People’s Bank of China have launched a green finance taskforce for a ‘low-carbon future’.

The Central Bank of Ireland has said it will increase pressure on mislabelling and marketing of green, ESG, and sustainable financial products.