Top Finance Regulators Seek Coordinated Response to Climate Risk
- FSB outlines steps to tackle climate-related financial risks
- Regulators yet to settle on reporting, oversight standards
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The world’s top financial regulators want to coordinate efforts to prepare for potential risks from climate change as authorities still lack common standards for assessing what could be one of the biggest threats facing banks and insurers.
The Financial Stability Board published a roadmap on Wednesday for tackling some of the key challenges in identifying and managing climate risk, notably the availability of data on emissions by companies and adapting to scenarios for how the environmental shift could play out.