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

    BCBS Amends Guidelines on Sound Management of AML/CFT Risks

    BCBS amended the guidelines on sound management of risks related to money laundering and financing of terrorism (ML/FT).

    July 02, 2020 WebPage Regulatory News
    News

    US Agencies Finalize Amendments to Swap Margin Rule

    US Agencies (Farm Credit Administration, FDIC, FED, FHFA, and OCC) finalized changes to the swap margin rule to facilitate implementation of prudent risk management strategies at banks and other entities with significant swap activities.

    July 01, 2020 WebPage Regulatory News
    News

    PRA Letter Sets Expectations on Approach to Managing Climate Risks

    PRA published a letter that builds on the expectations set out in the supervisory statement (SS3/19) on enhancing banks' and insurers' approaches to managing the financial risks from climate change.

    July 01, 2020 WebPage Regulatory News
    News

    EBA Guidelines on Treatment of Structural Foreign Exchange Under CRR

    EBA finalized the guidelines on treatment of structural foreign-exchange (FX) positions under Article 352(2) of the Capital Requirements Regulation (CRR).

    July 01, 2020 WebPage Regulatory News
    News

    FSB Issues Statement on Impact of COVID-19 Crisis on Benchmark Reform

    FSB published a statement on the impact of COVID-19 pandemic on global benchmark transition.

    July 01, 2020 WebPage Regulatory News
    News

    IAIS Publishes List of Internationally Active Insurance Groups

    IAIS published the list of Internationally Active Insurance Groups (IAIGs) publicly disclosed by group-wide supervisors.

    July 01, 2020 WebPage Regulatory News
    News

    FED Temporarily Revises FR Y-9C With Respect to PPPLF and CARES Act

    FED has temporarily revised the reporting form on consolidated financial statements for holding companies (FR Y-9C; OMB No. 7100-0128).

    July 01, 2020 WebPage Regulatory News
    News

    EC Launches Consultation on Review of Solvency II Directive

    EC launched a consultation on the review of the key elements of Solvency II Directive, with the comment period ending on October 21, 2020.

    July 01, 2020 WebPage Regulatory News
    News

    ECB Consults on Supervisory Approach to Consolidation in Banking

    ECB launched a consultation on the guide that sets out supervisory approach to consolidation projects in the banking sector.

    July 01, 2020 WebPage Regulatory News
    News

    IAIS on Package for 2020 Data Collection on ICS and Aggregation Method

    IAIS published technical specifications, questionnaires, and templates for 2020 Insurance Capital Standard (ICS) and Aggregation Method data collections.

    June 30, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5425