The NGFS Data Directory, an initiative led by major financial institutions including the BIS Innovation Hub Singapore Centre, the MAS and the Bank of France, aims to fortify the global financial sector against the burgeoning threat of climate change.
This directory provides a centralized hub of climate-related data essential for assessing financial risks associated with environmental changes.
The NGFS Data Directory currently offers a curated collection of data points specifically geared towards evaluating financial risks due to climate change, coupled with basic tools to facilitate the search for specific climate data. This setup is instrumental for financial authorities and institutions that are navigating the complexities of integrating various data sources to adequately gauge their vulnerability to climate-induced risks.
A significant advancement is underway with the development of the NGFS Data Directory 2.0. This new platform, shaped by insights gained from the directory’s initial version, promises a transformative improvement in accessing and utilising climate risk data within the financial sector. The upgrade includes a collaborative data ecosystem allowing users to contribute and update information, ensuring its comprehensiveness and timeliness. Additionally, it will feature advanced search and analytics capabilities, a user-centric design for improved navigation, and enhanced methods for integrating diverse data sources.
“The upcoming NGFS Data Directory 2.0 represents a leap forward in our collective effort to safeguard financial stability against environmental risks,” said BIS Innovation Hub CEO Benoît Cœuré. “By enabling more precise and easier access to relevant data, we are empowering institutions to make informed decisions.”
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