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The US Federal Reserve has released details for its first climate scenario analysis exercise for the six largest US banks.
CaixaBank has launched its Climate Risk Unit as part of its Sustainability Directorate, which has seen it bolster its commitment to sustainability.
A recent assessment by the European Central Bank (ECB) on the progress European banks are making in disclosure climate risks has revealed a lot more is yet to be done on this front.
Climate risk stress tests by the Hong Kong Monetary Authority (HKMA) have found climate risks could cause significant adverse impacts on the banking sector under extreme scenarios.
Taiwan’s Financial Supervisory Commission (FSC) has issued guidelines for banks and insurers on the climate risk disclosures they will be required to make from 2023 onwards.
The Basel Committee on Banking Supervision (BCBS) has issued a public consultation on the principles for the management and supervision of climate-related financial risks.
The Bank of England (BofE) has revealed it intends to crack down on banks and insurers who fail to hold enough capital to cover risks from climate change from next year.
New Zealand has become the first country globally to pass laws requiring banks, insurers and investment managers to disclose the impact of climate change on their companies.
Japan’s Financial Services Agency (FSA) has revealed it intends to make climate disclosures mandatory for large Japanese companies from April next year.
A barometer measuring the climate risk preparedness of the global banks and asset managers has found a lot still needs to be done in terms of practical implementation.
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