Proposals to elevate competitiveness ahead of climate change as new objectives for UK financial regulators have been widely criticised by civil society groups.
A coalition of international NGOs and senior academics have issued a powerful call to action, demanding that central banks use all available tools to address climate change and biodiversity loss.
A new report from the ECB and ESRB finds that climate-related shocks could be amplified by complex interdependencies, spreading quickly through the European financial system, affecting households, companies and banks.
The Malaysian central bank has launched a public consultation on a proposed climate risk stress testing exercise of the country’s banks and insurers to take place in 2024.
A searchable climate and sustainability disclosure database from the BIS, stronger HKMA climate risk supervision, green bonds in central bank reserves and more from this week in green central banking.
The South African Reserve Bank intends to incorporate climate-related risks into its regulatory and supervisory framework and develop monetary policy guidelines for responding to climate change, according to its latest annual report.
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.
The Basel Committee on Banking Supervision has agreed on principles for managing and supervising climate-related financial risks, providing an international baseline for banking regulators’ approach to climate change.
In its latest annual report, the Banco de España has identified “moderate” short term climate-related risks facing Spanish financial institutions, rising dramatically as physical risks materialise.
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.
The Financial Stability Board has launched a public consultation on supervisory and regulatory approaches to climate-related risks, seeking feedback on a report and recommendations.
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