Topic: Climate risk

Data gaps: the key challenge for sustainability and climate disclosure

With more disclosure regulations and standards soon to be implemented, participants at a recent sustainable finance summit in Amsterdam discussed the increasing need for reliable data and methodologies related to sustainability and climate-related risk data and methodologies.

26 May 2023

Nature risk: the next frontier

Since last year’s COP15, nature risk is attracting increasing attention, with a new framework from the G20’s Taskforce on Nature-related Financial Disclosures nearing completion. So, what should firms that want to gain a first-mover advantage expect? Kelvin Ng reports from Amsterdam.

10 May 2023

Singapore focuses on transition finance in latest net zero plan

Singapore has shifted its focus to transition finance ahead of green finance in its newly-updated finance for net zero action plan, as the country’s finance minister said Asia’s development needs would mean continued use of fossil fuels.

26 April 2023

Hong Kong stock exchange to implement mandatory climate disclosures

The Stock Exchange of Hong Kong has announced plans to get out ahead of the ISSB climate standard currently nearing completion with proposals to tighten its ESG reporting requirements – moving away from its current “comply or explain” posture towards mandatory disclosures.

18 April 2023

A “regulatory-like” approach to benchmarking, promises carbon credits group

An international voluntary carbon markets body has published its benchmark for assessing the integrity of carbon credits, assuming “regulatory-like” powers over carbon credit programmes including the ability to suspend and terminate their accreditation.

11 April 2023

UAE proposes “flexible” climate risk management principles

A group of regulators from across the United Arab Emirates, including from the financial free zones of Abu Dhabi and Dubai, has proposed a set of principles for corporate climate risk management for the country.

30 March 2023

Capability and regime gaps creating uncertainty over climate risk capital buffers, Bank of England says

The Bank of England has raised the alarm over the potential for firms to miscalculate the capital needed for future climate-related loses amid the difficulties in estimating climate risks.

29 March 2023

EU: ECON passes Basel implementation package with consolidated output floor

A key EU parliamentary committee has accepted adaptations to the final Basel III implementation, and opened the door for a potential future dedicated prudential framework that could include a “one-for-one” capital treatment for crypto and fossil fuel financing.

30 January 2023

Convergence on climate: Fed’s guidance mirrors OCC and FDIC

The Federal Reserve has emphasised consistency with other US regulators in its draft guidance for big banks’ climate-related risks, with an emphasis on scenario analysis.

08 December 2022

Fed names six banks for its “not a stress test” climate scenario exercise

Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo are set to undertake next year’s pilot climate scenario exercise with the Federal Reserve – but it’s definitely not a stress test, the central bank has insisted.

04 October 2022

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