Top Finance Regulators Seek Coordinated Response to Climate Risk

摘要

The world’s top financial regulators want to coordinate efforts to prepare for potential risks from climate change as authorities still lack common standards for assessing what could beone of the biggest threats facing banks and insurers.The Financial Stability Board published a roadmap on Wednesday for tackling some of the key challenges in identifying and managing climate risk, notably the availability of data onemissions by companies and adapting to scenarios for how the environmental shift could play out.Financial firms could face losses on loans and insurance contracts if extreme weather damages factories or polluting companies go out of business in the transition to a cleaner economy.Yet more than five years after political leaders agreed to limit global warming, banks and insurers still don’t face consistent rules.