Featured Product

    BoE Launches Private Finance Agenda for Transition to Net Zero Economy

    February 27, 2020

    The Governor of BoE, Mark Carney, launched the "COP26 Private Finance Agenda" to help private finance support the whole economy transition to net zero. The objective of the Agenda is that every professional financial decision will need to take climate change into account. The right framework for reporting, risk management, and returns will embed these considerations and help finance a whole economy transition. To achieve net zero, every company, bank, insurer, and investor will need to adjust their business models for a low carbon world. BoE has also published the speech of Mark Carney on the launch of COP26 Private Finance Agenda.

    The following are the key highlights of the COP26 private finance strategy:

    • Refine climate-related financial disclosure to increase quantity and quality of reporting
    • Agree potential paths to mandatory reporting at domestic and international levels
    • Ensure that firms and investors can measure and manage the risks in the transition to a net zero world
    • Assess the resilience of firm’s strategies to net zero transition through stress tests. Develop open source, business-relevant reference scenarios for regulators, financial firms, and businesses to test strategic resilience
    • Encourage Multilateral Development Banks to report their own emissions and exposure to climate risks, in line with the Taskforce for Climate-related Finance Disclosures (TCFD)
    • Work with private sector to promote the most promising and impactful financial innovations in sustainable finance (including transition bonds, contingent climate securitizations, and the scaling up of rapid private markets for carbon offsets and nature-based solutions)

     

    Related Links

    Keywords: Europe, UK, Banking, Insurance Securities, Private Finance Agenda, ESG, Disclosures, TCFD, Climate Change Risk, Reporting, Sustainable Finance, COP26, BoE

    Featured Experts
    Related Articles
    News

    BIS Paper Studies Impact of Fintech Lending on Small Businesses in US

    The Bank for International Settlements (BIS) published a paper that studies impact of fintech lending on credit access for small businesses in U.S.

    September 26, 2022 WebPage Regulatory News
    News

    UK Regulators Issue CRR Changes and Stress Test Scenarios for Banks

    The Prudential Regulation Authority (PRA) issued the policy statement PS8/22 to amend the Own Funds and Eligible Liabilities (CRR) Part of the PRA Rulebook and update the supervisory statement SS7/13 titled "Definition of capital (CRR firms).

    September 26, 2022 WebPage Regulatory News
    News

    EBA Launches EU-Wide Transparency Exercise in 2022

    The European Banking Authority (EBA) launched the EU-wide transparency exercise for 2022, with results of the exercise expected to be published at the beginning of December, along with the annual Risk Assessment Report.

    September 23, 2022 WebPage Regulatory News
    News

    SRB on CRR Quick-Fix to Policy for Multiple Point of Entry Banks

    The Single Resolution Board (SRB) welcomed the adoption of the review of the Capital Requirements Regulation, or CRR, also known as the "CRR quick-fix."

    September 22, 2022 WebPage Regulatory News
    News

    EC Rule Lists Advanced Economies for Market Risk Capital Calculations

    The European Commission (EC) recently adopted the Delegated Regulation 2022/1622, which sets out the regulatory technical standards to specify the countries that constitute advanced economies for the purpose of specifying risk-weights for the sensitivities to equity.

    September 21, 2022 WebPage Regulatory News
    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
    RESULTS 1 - 10 OF 8521