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ECB mulls climate buffer as it warns of carbon-intensive 'fire sale'
26 July 2022Eurozone banks could be subject to a climate-related capital buffer as part of efforts to manage the risk of a disorderly energy transition, joint research by the European Central Bank (ECB) and the European Systemic Risk Board (ESRB) proposes.
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Focus on banking transition plans as priority, IIGCC recommends
19 July 2022A proposed 'gold standard' for company and investor net-zero transition planning should prioritise the banking sector, according to a €51 trillion ($52 trillion) group of institutional investors.
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UK government plans taskforce on social investment
18 July 2022A taskforce to help UK pension schemes incorporate social factors in their investments is to be established by the government Department for Work and Pensions (DWP).
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Japan consults on ESG data 'code of conduct'
14 July 2022Japan's Financial Services Agency (FSA) has published what is believed to be a world-first 'code of conduct' for providers of environmental, social and governance (ESG) data and evaluations.
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De Cambourg backed for EFRAG sustainability reporting role
14 July 2022Patrick de Cambourg has received the support of the European Parliament's committee on legal affairs to become chair of EFRAG's Sustainability Reporting Board.
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FSB chair hints at end of TCFD with 'handover' to ISSB
14 July 2022The 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.
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FSB identifies global sustainability assurance standards among priorities
14 July 2022The Financial Stability Board (FSB) has identified the development of globally applicable sustainability assurance standards among key areas of work to promote sustainable finance.
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Risk of a rush to green assets necessitates policy clarity, says BoE official
13 July 2022The risks to financial stability posed by a disorderly transition will rely on companies and investors having a clear view of the future, a senior Bank of England official said.
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ESG ratings 'struggling' to meet EU taxonomy social safeguards
12 July 2022New criteria for assessing non-compliance with minimum social safeguards in the EU's taxonomy regulation has been proposed, with ESG rating agencies having been identified as struggling to make the assessments.
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Policy action likely to lead to losses on crypto-assets, ECB paper warns
12 July 2022The eventual pricing-in of the negative environmental externalities of cryptocurrency assets appears likely to lead to losses on crypto-asset exposures, a research paper published by the European Central Bank warns.