US moves towards mandatory climate risk disclosure
The US Securities and Exchange Commission (SEC) is to “enhance its focus on climate-related disclosure in public company filings.” The move is part of a process to update its 2010 climate disclosure requirements, acting SEC chair Allison Herren Lee said in …
UN report warns of climate risk ‘blind spots’
A new and comprehensive report from the United Nations Environment Programme (UNEP) has warned that tools and methodologies used to analyse climate risk do not fully capture the full impacts of climate change. The report, from UNEP’s Finance Initiative, found …
Central bank governors argue for carbon neutrality over market neutrality
Two Eurosystem central bank governors called for the decarbonisation of the European Central Bank’s (ECB’s) monetary policy, to bring it in line with EU emissions targets and the Paris Agreement. In a speech on Thursday at a sustainable finance conference, …
Eurosystem agrees on responsible investment and disclosure
Europe’s central banks have agreed on common principles for responsible investment and disclosure requirements for their own-fund portfolios. The agreement between the Eurosystem’s 19 national central banks and the European Central Bank (ECB) will “increase the awareness and understanding of …
Bank of Finland puts sustainability at core of new strategy
The Bank of Finland (BoF) is to put sustainable growth alongside economic stability at the core of its revised strategy, although there are notable gaps, particularly on climate change. The BoF’s new mission and vision is to “foster a sustainable …
ECB Must Protect Balance Sheet From Climate Risk, Says Panetta
There is a market failure to price climate risk and the European Central Bank (ECB) must analyse and manage its own exposure, according to Executive Board Member Fabio Panetta. In a speech on Tuesday to the Italian Society of Financial …
New climate change committee at the Federal Reserve
The U.S. Federal Reserve is taking promising – if long-delayed – steps to address the risks posed by climate change with the creation of a new supervision committee. This is the latest move demonstrating that the US central bank is …
Lagarde launches new ECB climate centre
European Central Bank (ECB) President Christine Lagarde announced the creation of a new climate change centre to coordinate work on climate change across the Bank. “Climate change affects all of our policy areas,” she said. “The climate change centre provides the …
Members of European Parliament ask ECB to disclose its own climate risk
A cross-party group of Members of the European Parliament (MEPs) asked the European Central Bank (ECB) to publish its own climate-related financial disclosures, in line with the bank’s strongly declared position in favour of climate-related disclosures for banks, companies and institutions. …
Banque de France to drop investment in coal by 2024
The Banque de France (BdF) announced that it will exclude all companies with a coal-related activity, however small, from its own €22 billion investment and pension portfolio by 2025. It will also reduce its oil and gas holdings, adopting the Paris …
ECB First to buy sustainability-linked bonds
The European Central Bank has become the world’s first central bank to allow sustainability-linked bonds to be classified as eligible as prudential collateral and for asset repurchase programs. Announced in September of last year, the measures came into force from …
You have seen 11 of 28