NGFS to Publish Climate Reference Scenarios in Coming Months
NGFS published a report that presents an overview of the market dynamics for mobilizing sustainable finance, a dashboard on scaling up green finance, and the 2020 annual report that details the NGFS activities and key highlights of the year. NGFS also announced that it plans to publish an updated set of climate reference scenarios in the coming months; this will be accompanied by a presentation and technical documentation from NGFS as well as an interim report on the topic of "data gaps."
The report on overview of market dynamics for sustainable finance identifies three main channels through which financial markets can help steer the necessary transformation of the real economy toward higher levels of sustainability: disclosure, risk management, and the mobilization of capital. The report also provides key takeaways on the need for improvement for further consideration by policymakers and market participants. The dashboard on scaling up green finance is a first attempt to catalog desirable series that allow the evolution, change, and trend of a phenomenon (rather than its absolute level to be analyzed). It contains a set of 21 indicators tracking the greening of national financial systems. While presented at an aggregate level, the dashboard is intended for use at the jurisdictional level. To this end, metadata describe the country coverage and provide sources where these data can be found.
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Keywords: International, Banking, Insurance, Securities, Climate Change Risk, Sustainable Finance, ESG, Data Gaps, Scenarios, NGFS
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