What Banks Can Learn from the IFC’s Approach to ESG
Understanding multiple existing ESG frameworks and their applications can guide banks toward the path of developing their own distinct methodologies and practices.
Browsing: Climate change
OCC Names Climate Change Risk Officer, Joins Network for Greening Financial System
The OCC today announced that Darrin Benhart has been tapped to serve as climate change risk officer at the agency, a newly created position focused on promoting climate change risk management at banks.
FSB Outlines Next Steps on Climate Risk Disclosures, Tackles Climate ‘Data Gaps’
As the annual summit of G20 finance ministers and central bank governors kicks off in Italy today, the Financial Stability Board released its roadmap for global regulatory coordination on climate-related financial risks.
Modeling Corporate Credit Climate Risk
Amid discussion by regulators and bankers of climate risk metrics, researchers propose a bottom-up approach for corporate credit climate stress.
Agencies Update Regulatory Agendas
Federal agencies on Friday announced updates to their rulemaking agendas. Items on the agendas and…
ABA Calls for Expanded Safe Harbor for SEC Climate Disclosures, Flexibility for Community Banks
The American Bankers Association urged the Securities and Exchange Commission today to provide a wide safe harbor for information and statements made in disclosures addressing climate risk.
Schatz, Casten Introduce Climate Risk Stress Testing Bill
Sen. Brian Schatz (D- Hawaii) and Rep. Sean Casten (D-Ill.) introduced legislation today that would direct the Federal Reserve to subject large banks to stress tests to measure their resilience to climate-related financial risks. Schatz previously introduced the bill in the last Congress.
Large Bank CEOs Discuss Pandemic Response, Climate Policy During Congressional Hearing
The CEOs of the nation’s largest banks recapped their institutions’ efforts to support their customers and communities through the COVID-19 pandemic and its aftermath during a Senate Banking Committee oversight hearing.
President Biden Signs Sweeping Executive Order on Climate-Related Financial Risk
President Biden late Thursday signed an executive order on climate-related financial risk that, among other things, directs financial regulators to take several steps to ensure the appropriate measurement and mitigation of these risks.
OCC’s Hsu Warns Against ‘Complacency’ as Recovery Revs Up
With projected economic growth expected to create a positive environment for bank performance in the remainder of 2021 and 2022, according to the OCC’s newly released Semiannual Risk Perspective, newly appointed Acting Comptroller Michael Hsu today said “it’s critical that bankers and their regulators guard against complacency.”