The Financial Stability Board has published its final report on supervisory and regulatory approaches to climate-related risks, offering recommendations to banking and insurance regulators charged with managing the financial risks associated with accelerating global heating.
Focusing on data, analytical tools and policy, the document calls for a more consistent global approach to addressing these risks while warning that how easily its recommendations can be applied may differ depending on the mandate of individual authorities.
The report incorporates feedback received during a public consultation on a draft version published in April 2022 and is built on the FSB’s roadmap to address climate-related financial risks, endorsed by the G20 in 2021. A progress report on the roadmap was published in July 2022.