Browsing: Climate

Compliance and Risk

The current environment of swiftly rising interest rates, combined with tighter financial conditions, greater market volatility and slowing global growth “could test many of the long-standing and growing vulnerabilities in the global financial system,” the Financial Stability Board said.


As the Financial Accounting Foundation considers a proposed strategic plan, ABA is recommending the organization consider ensuring that post-implementation reviews (PIRs) are conducted on a regular basis and that FAF takes a leadership role in helping bridge the gap between investor expectations and reporting on environmental sustainability.


Top economic and regulatory officials at the Basel, Switzerland Bank for International Settlements emphasized the limits of the financial industry’s ability to reduce climate risk in a new article this week, calling it “unrealistic” to assume that the financial sector could drive the reallocation of resources needed to transition to a global green economy “in the absence of adequate environmental policymaking in the real economy.”


The Commodity Futures Trading Commission today issued a request for information regarding climate-related financial risks related to the derivatives markets and underlying commodities markets—the latest federal regulatory agency to issue a climate-related RFI.


ABA yesterday joined a broad coalition of more than 40 trade groups—led by the California Chamber of Commerce—in a letter to the California Assembly Natural Resources Committee opposing S.B. 260, a comprehensive greenhouse gas disclosure bill.

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