FSB publishes recommendations for supervisory and regulatory approaches to climate-related risks and calls for continued progress on disclosures
The Financial Stability Board (FSB) published two reports as part of its work on addressing climate-related financial risks. These reports are:
- A final report on supervisory and regulatory approaches to climate-related risks. The report aims to assist supervisory and regulatory authorities in developing their approaches to monitor, manage and mitigate cross-sectoral and system-wide risks arising from climate change and to promote consistent approaches across sectors and jurisdictions.
- A progress report on climate-related disclosures, which takes stock of progress made over the past year by the new global standard-setter, by national and regional authorities and by firms.
The FSB also welcomed the publication of the 2022 status report by its industry-led Task Force on Climate-related Financial Disclosures (TCFD), which describes the further progress by firms in making TCFD-aligned disclosures.