Scenario analysis may ‘understate’ climate risks, warn FSB and NGFS
A joint report from the FSB and NGFS has warned that current climate scenario analysis exercises “may understate” climate exposure by failing to account for second-round effects, non-linearities and other large sources of climate risk.
ESMA calls for double materiality in ISSB standards
The European Securities and Markets Authority calls for double materiality in global sustainability standards, a progress report from the Financial Stability Board, sustainability guidance from the Philippines central bank and more from this week in green central banking.
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