Featured Product

    FCA and PRA Host Fourth Meeting of Climate Financial Risk Forum

    August 14, 2020

    FCA and PRA hosted the fourth meeting of the Climate Financial Risk Forum (CFRF) in July 2020. The Forum discussed how to publicize and promote the use of CFRF guide, which was published on June 29, 2020, by the financial services industry. The next CFRF meeting will take place in the fourth quarter of 2020. At the next meeting, the Forum will work to reach an agreement on the workplans and approaches and will discuss the possible next steps to support COP26, which is the international climate summit that the UK will host in November 2021.

    CFRF agreed that, to maintain momentum in its early years, all current members would continue into the second year and that membership would be widened to include a small number of asset owners, along with other regulators that would be invited to observe. CFRF then went on to discuss the strategy for the second year of work. CFRF agreed that the four existing working groups would continue with the current chairs and secretariats. These working groups address the topics of: risk management, scenario analysis, disclosures, and innovation. Once the workplans are agreed between the regulators and the working group chairs, the working group membership will be refreshed to ensure that there is an appropriate variety of skills and experiences around the table; this is likely to include a mix of existing and new members. There was broad agreement that each working group would have a two-fold focus. One of these areas of focus is to undertake a thematic piece of work on metrics, data, and methodologies while the second area of focus is to build on the CFRF guide, by progressing and refining the recommendations, particularly highlighting how firms can effectively implement these approaches.


    Related Link: Meeting Update

     

    Keywords: Europe, UK, Banking, Insurance, Securities, CFRF, Climate Change Risk, Climate Financial Risk Forum, ESG, Disclosures, Stress Testing, COP26, FCA, PRA

    Featured Experts
    Related Articles
    News

    EBA Publishes Final Regulatory Standards on STS Securitizations

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.

    September 20, 2022 WebPage Regulatory News
    News

    ECB Further Reviews Costs and Benefits Associated with IReF

    The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.

    September 15, 2022 WebPage Regulatory News
    News

    EBA Publishes Funding Plans Report, Receives EMAS Certification

    The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).

    September 15, 2022 WebPage Regulatory News
    News

    MAS Launches SaaS Solution to Simplify Listed Entity ESG Disclosures

    The Monetary Authority of Singapore (MAS) set out the Financial Services Industry Transformation Map 2025 and, in collaboration with the SGX Group, launched ESGenome.

    September 15, 2022 WebPage Regulatory News
    News

    BCBS to Finalize Crypto Rules by End-2022; US to Propose Basel 3 Rules

    The Basel Committee on Banking Supervision met, shortly after a gathering of the Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of BCBS.

    September 15, 2022 WebPage Regulatory News
    News

    IOSCO Welcomes Work on Sustainability-Related Corporate Reporting

    The International Organization of Securities Commissions (IOSCO) welcomed the work of the international audit and assurance standard setters—the International Auditing and Assurance Standards Board (IAASB)

    September 15, 2022 WebPage Regulatory News
    News

    BoE Allows One-Day Delay in Statistical Data Submissions by Banks

    The Bank of England (BoE) published a Statistical Notice (2022/18), which informs that due to the Bank Holiday granted for Her Majesty Queen Elizabeth II’s State Funeral on Monday September 19, 2022.

    September 14, 2022 WebPage Regulatory News
    News

    ACPR Amends Reporting Module Timelines Under EBA Framework 3.2

    The French Prudential Control and Resolution Authority (ACPR) announced that the European Banking Authority (EBA) has updated its filing rules and the implementation dates for certain modules of the EBA reporting framework 3.2.

    September 14, 2022 WebPage Regulatory News
    News

    ECB Paper Discusses Disclosure of Climate Risks by Credit Agencies

    The European Central Bank (ECB) published a paper that examines how credit rating agencies accepted by the Eurosystem, as part of the Eurosystem Credit Assessment Framework (ECAF)

    September 13, 2022 WebPage Regulatory News
    News

    APRA to Modernize Prudential Architecture, Reduces Liquidity Facility

    The Australian Prudential Regulation Authority (APRA) announced reduction in the aggregate Committed Liquidity Facility (CLF) for authorized deposit-taking entities to ~USD 33 billion on September 01, 2022.

    September 12, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8514