FSB setting up transition plan working group
The body that established the Task Force on Climate-related Financial Disclosures (TCFD) is setting up a group to study how climate transition planning can inform how regulators supervise risks to financial stability.
Regulators' climate scenario analyses could be understating risks, warns FSB
The climate scenario analyses carried out by financial authorities may underestimate exposures and vulnerabilities, as they are not capturing the second-order impacts associated with climate change, the Financial Stability Board (FSB) has said.
FSB chair hints at end of TCFD with 'handover' to ISSB
The chair of the body that created the Task Force on Climate-related Financial Disclosures (TCFD) has hinted that the foundational disclosure initiative may be coming to an end.
FSB identifies global sustainability assurance standards among priorities
The Financial Stability Board (FSB) has identified the development of globally applicable sustainability assurance standards among key areas of work to promote sustainable finance.
IFRS 'should use TCFD' as basis for reporting standards, says FSB
The IFRS Foundation's proposal to devise international sustainability reporting standards should be underpinned by the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), the Financial Stability Board (FSB) has said.
Asian firms overtake US on emissions disclosure, says Arabesque
The proportion of Asian companies reporting carbon emissions has jumped above that of US firms in 2019, according to a report by sustainability-focused asset manager Arabesque, although European corporates continue to lead.
UK government announces green sovereign bond and climate disclosure plan
The UK government has announced plans to issue its first green sovereign bond in 2021, as well as making for climate-risk disclosures mandatory for major companies by 2025.
Central banks should step up to face environmental breakdown risk in finance
Market-fixing approaches such as the nascent Task Force for Nature-related Financial Disclosures (TNFD) are "unsuitable" for managing the risks posed by environmental breakdown, an academic paper has argued, instead proposing that central banks and financial regulators should introduce strict industry-wide exclusionary criteria.
Task Force on Nature-related Financial Disclosures working group announced
Ten financial firms have joined a working group to develop a reporting framework for the impact of the financial sector on biodiversity and ecosystems to complement the Task Force on Climate-related Financial Disclosures (TCFD).
Third of investor votes back Mizuho Financial climate resolution
More than a third of Mizuho Financial investors backed a ground-breaking shareholder resolution urging the Japanese bank to disclose its climate risks and publish a plan to align investments with the Paris Agreement.