Legal & Regulatory News
Network for Greening the Financial System publishes progress report on the implementation of its guide on integrating climate-related and environmental risks into prudential supervision
26 October 2021On 26 October 2021, the Network for Greening the Financial System (NGFS) released a progress report on the implementation of its guide for supervisors on integrating climate-related and environmental risks into prudential supervision. Informed by a survey of NGFS supervisors and a one on disclosure requirements by supervised institutions, the report recognised progress made on integrating climate-related risk into work by supervisors.
Also noted in the report is the slow progress being made on the concept of environmental risk. The report provides updated guidance for supervisors in 12 key 'focus areas' which are the result of the five overarching recommendations within the guide, with a particular focus on those not covered in as much detail in the guide, such as environmental risk and disclosure.
Click here to access the full report.