On April 29, 2022, the FSB published a report that 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.
The agency’s recommendations focused on these areas:
Supervisory and regulatory reporting and collection of climate-related data from financial institutions;
System-wide supervisory and regulatory approaches to assessing climate-related risks; and
Early consideration of other potential macroprudential policies and tools to address systemic risks.
The FSB is seeking comments on the said recommendations and will be accepting them until June 30, 2022.
Read the FSB’s full press release here.
The full Interim Report can be found here.