US Securities and Exchange Commission proposals for mandatory climate-related financial disclosures have met strong opposition from the American banking industry, contrasting starkly with the support the draft rules have received from investors.
A group of leading ECB figures have argued that demonstrated market flaws surrounding emissions and climate change require corrective action to fulfil the central bank’s mandate of “favouring an efficient allocation of resources”.
A Nobel laureate says supervisors must understand climate uncertainty, systemic risk buffers and climate risk, an FSB call for transparency, cooperation and a holistic perspective, and more from this week in green central banking.
Isabel Schnabel warns of climate effect on rates, the Fed finds lower ratings for high-carbon companies, the Bank of Jamaica expands climate risk supervision and more from this week in green central banking.
The ECB has supported EU proposals on green capital requirements and transition plans, saying it is already empowered to implement climate-related systemic risk buffers.
New legislation before the Canadian parliament would introduce capital adequacy rules for fossil fuel lending and require the Bank of Canada to align its activities with the country’s climate commitments.
A climate risk stress test of major Chinese banks has shown a growing risk of defaults on loans to high-carbon sectors faced with rising emissions costs, as well as the potential for stranded assets.
The Financial Stability Board has outlined its work priorities for 2022, including focus on climate-related disclosures, data, vulnerabilities analysis, and regulatory and supervisory approaches.
The inflation threat from a disorderly transition, Bank of England bank stress tests, a new Bank of Italy climate hub, a Bank of Russia climate conference and more from this week in green central banking.
The American Bankers Association has welcomed the nomination of Sarah Bloom Raskin for vice chair for supervision at the Federal Reserve, along with fellow Fed board nominees Lisa Cook and Philip Jefferson.
The US Senate banking committee chair on Fed confirmations, climate risks to asset backed securities, the huge carbon footprint of bitcoin transactions and other news from this week in green central banking.
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