Climate advocates have expressed their frustration with what they see as an unnecessary and unacceptable delay.
The report avoids recommending firm timelines for regulators to take action, and includes no consideration of some of the bolder interventions taken by regulators in other G20 economies.
The ECB has published the methodology of its upcoming climate risk stress test of Eurosystem banks, requiring lenders to assess their exposure to climate risks and evaluate their response to common transition scenarios.
Australia’s climate inaction scaring investors, White House releases roadmap on climate risk ahead of FSOC report, Bank of Mauritius launches climate change centre and more from this week in green central banking.
Public interest groups have outlined their expectations for a much-anticipated US Treasury report into regulators’ handling of climate-related financial risk.
Leading banks have resisted agreeing to end financing of all new fossil fuel exploration this year, despite an IEA warning that a ban is necessary to reach net zero by 2050.
A new report from the Network for Greening the Financial System finds growing evidence that biodiversity loss could have significant economic and financial implications.
Fed’s Brainard says climate stress tests on the way for US banks, Carney under fire over COP26 ‘greenwashing’, G20 central banks urged to green refinancing operations and more from this week in green central banking.
The Bank of England’s deputy governor has expressed optimism that tightening climate rules on banks will not lead to increased financial flows towards unregulated activities and institutions. …
Residential mortgages pose a climate risk to US financial stability, Canadian and Australian regulators to expand disclosure expectations, a new FSB financial stability surveillance framework, and more from this week in green central banking.
Leading environmental, financial and public interest groups have written to US regulators calling on them to add climate risk to their supervision of banks.
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