A new report from the Financial Stability Board today highlighted the potential implications of climate change for financial stability.
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The Financial Stability Board’s Task Force on Climate-related Disclosure has “seen significant momentum around adoption of and support for its recommendations” for firms to develop more effective climate-related financial disclosures, according to its 2020 status report released today.
The New York Department of Financial Services today issued a letter to state-regulated financial institutions outlining the department’s expectations for managing climate change risk.
The Basel Committee on Banking Supervision is considering the use of stress tests, heat maps and scenario analysis to gauge the risks from climate change on financial institutions, Kevin Stiroh said today.
Amid greater attention by policymakers worldwide to financial risks associated with climate change, a senior Federal Reserve official today said that the agency has no “near-term” plans to conduct climate stress tests or impose climate-related risk weighting on assets.
Why credit portfolio managers need to focus more on physical climate risk.