The ECB should consider climate risk to better align its balance sheet with the EU, ECB board member Frank Elderson said. …
Climate scenarios used by the financial sector fail to take into account recent setbacks from geopolitical events, the International Monetary Fund has said.
The problems with climate risk scenarios were debated by economic experts during a panel hosted by Green Central Banking and Climate Safe Lending Network.
Climate financial models don’t match up with what the science says, which is why it’s time for a dialogue around climate science and finance, says Joel Benjamin from Carbon Tracker. …
RBNZ Governor Adrian Orr said the central bank has more work to do to fully understand the impact of climate change on New Zealand’s economy
The European Banking Authority will require banks to consider ESG risks under its capital requirement framework in a global first.
Transition Pathway Initiative analysis has found that global banks are not disclosing enough data to shareholders, with very few committing to end fossil fuel investments.
A report from Ceres found that while some progress has been made, all of the 10 US regulators analysed have yet to implement climate-risk rules.
If central banks want to create accurate climate risk models, they need to work with experts in other fields, says climate researcher Tim Lenton.
Climate models in financial services are found unfit for purpose by a new report, failing to capture the consequences of surpassing critical climate tipping points.
The European supervisory authorities, the European Central Bank, and the European Systemic Risk Board are all expected to participate in a one-off climate risk scenario analysis.
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