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Home > Databases > Library > A Call for Action Climate Change as a Source of Financial Risk

A Call for Action Climate Change as a Source of Financial Risk

April 2019
Source: 
Network for Greening the Financial System (NGFS)

This report of the Network for Greening the Financial System builds on the network’s progress report, in which members acknowledged that “climate-related risks are a source of financial risk. It is therefore within the mandates of central banks and supervisors to ensure the financial system is resilient to these risks.” It provides 6 recommendations:

  •  Integrating climate-related risks into financial stability monitoring and micro-supervision
  • Integrating sustainability factors into own-portfolio management 
  • Bridging the data gaps 
  • Building awareness and intellectual capacity and encouraging technical assistance and knowledge sharing
  • Achieving robust and internationally consistent climate and environment-related disclosure 
  • Supporting the development of a taxonomy of economic activities
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Themes: 
Climate Change, Risk and Resilience

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