Andrew Bailey, the BoE governor, said the central bank has reduced its green resources after the UK government removed climate change from its annual remit letter.
Climate risks are difficult to quantify and require improvements in data, the ECB supervisory board chair Claudia Buch said.
The first stress test of US insurance company investments found that west coast insurers could lose billions if the transition to a green economy is delayed.
Global standard setter eyes AI and big data, multilateral development banks issue innovative green bonds, EU considers EBA recommendations on green loans, plus more in the latest roundup.
Investors have written to the Bank of England warning that UK banks may not hold enough capital to cope with the impact of climate change.
Morocco’s central bank is drawing up new guidelines for banks’ climate disclosures, its governor Abdellatif Jouahri has announced.
Sabine Mauderer and Fundi Tshazibana have been appointed as the new chair and vice-chair of the Network for Greening the Financial System.
Campaigners have called on US regulators to better address climate risks in their ‘Basel III endgame’ rewrite of big banks’ capital obligations.
Disclosure standards from two global bodies are closely aligned, UK pension funds must now integrate ESG into risk management, plus more in this week’s roundup.
Engineering the financial system to promote a cascade of green energy tipping points is essential to avoid the systemic risk of climate breakdown, says climate finance researcher Jamie Rickman of University College London. …
Namibia joins NGFS, Indonesian banks under pressure to disclose climate risks, Moody’s says ESG will have increasing impact on credit ratings, and more in the latest roundup.
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