Archive

'Double materiality' splits market in IFRS sustainability standards consultation

PCAF launches standard for global emissions

The Partnership for Carbon Accounting Financials (PCAF) has launched a methodology which intends to enable banks to measure and disclose the emissions associated with their financed activities.

Central banks prepare for "decisive" 2020 for climate change action

The Network for Greening the Financial System (NGFS) said 2020 will be a "decisive year", as the group of central banks warned the coronavirus crisis should not overshadow the pressure building for climate action in the financial system.

Carney: Prudential regulation should avoid climate policy by 'back door'

Former Bank of England (BoE) governor Mark Carney has warned against using prudential regulation to implement climate policy "by the back door".

People moves: CalPERS, FCLTGlobal, NNIP, Lightsource BP, ALLCOT Colombia

Elisabeth Bourqui has resigned as chief operating investment officer at public pension fund California Public Employees' Retirement System (CalPERS), after less than eight months in office.

Central banks make rallying cry for swift action on climate risk

The financial risks presented by climate change are “system-wide and potentially irreversible… and [these] risks call for action in the short-term to reduce impact in the long-term”, a group of some of the world’s most influential central banks and supervisors has warned.

DNB’s energy transition stress test projects ‘sizeable’ losses

Netherlands-based insurers and pension funds potentially face ‘sizeable’ losses of up to 10% of their assets in the next five years in the transition to a low-carbon economy, according to a stress test by the Dutch central bank.

Banque de France and I4CE form climate finance partnership

The Banque de France and the Institute for Climate Economics (I4CE) are forming a partnership to exchange expertise and increase the financial sector's awareness of climate risks and opportunities.

Banking on a changing climate?

Climate change poses a significant threat to banks. How big is their exposure to climate risks, and what are they doing to mitigate them, asks Peter Cripps

Central bankers warn European Commission on green supporting factor

Prominent central bankers have warned the European Commission that plans to lower the capital requirements for green assets would be "dangerous".