Featured Product

    FSB Recommendations on Disclosure of Climate-Related Financial Risks

    June 29, 2017

    FSB published the recommendations for effective disclosure of climate-related financial risks. These recommendations, which are applicable to organizations across sectors and jurisdictions, have been developed by the industry-led Task Force on Climate-Related Financial Disclosures (TCFD).

    The recommendations by TCFD are structured around the following four areas:

    An organization’s governance around climate-related risks and opportunities

    Actual and potential impacts of climate-related risks and opportunities on the organization’s businesses, strategy, and financial planning

    Processes used by the organization to identify, assess, and manage climate-related risks

    Metrics and targets used to assess and manage relevant climate-related risks and opportunities

     

    At the launch of the final recommendations, more than 100 firms, with market capitalizations of over USD 3.3 trillion and financial firms responsible for assets of more than USD 24 trillion provided statements of support, agreeing to actively support successful implementation of the recommendations while encouraging other business leaders to do the same. FSB established this private-sector Task Force (TCFD), chaired by Michael R. Bloomberg, in December 2015 to develop a set of voluntary, consistent disclosure recommendations for use by companies in providing information to investors, lenders, and insurance underwriters about their climate-related financial risks. The TCFD will continue its work until at least September 2018, with a focus on promoting and monitoring adoption of the TCFD’s recommendations by companies and evaluating the extent to which the recommended disclosures are meeting the interests of users.

     

    Related Links

    Report on TCFD Recommendations (PDF)

    Implementing the Recommendations (PDF)

    Statements of Support (PDF)

    Keywords: FSB, International, Banking, Insurance, Climate Related Risks, TCFD, Disclosures

    Related Articles
    News

    APRA Revises Related Entities Standard for Banks

    APRA published a strengthened prudential standard APS 222 on associations with related entities, with the aim to mitigate contagion risk within banking groups.

    August 20, 2019 WebPage Regulatory News
    News

    HKMA Revises Implementation Schedule for Initial Margin Rules

    HKMA intends to adopt a revised implementation schedule for the margin requirements for non-centrally cleared derivatives.

    August 16, 2019 WebPage Regulatory News
    News

    HKMA Revises Guideline on Application of Banking Disclosure Rules

    HKMA issued a revised version of the Supervisory Policy Manual module CA-D-1 on guideline on the application of the Banking (Disclosure) Rules (BDR).

    August 16, 2019 WebPage Regulatory News
    News

    ECB Decision on Recognizing Reporting Member States Under AnaCredit

    ECB has finalized the Decision 2019/1348 (ECB/2019/20) that establishes procedure for recognizing non-euro area member states as reporting member states under the AnaCredit Regulation (EU 2016/867).

    August 16, 2019 WebPage Regulatory News
    News

    FASB Proposes to Extend CECL Standard Deadline for Certain Entities

    FASB proposed an Accounting Standards Update that would grant private companies, not-for-profit organizations, and certain small public companies additional time to implement FASB standards on current expected credit losses (CECL), leases, and hedging.

    August 15, 2019 WebPage Regulatory News
    News

    IASB Adds Phase Two of IBOR Reform to Its Work Plan

    IASB (or the Board) has added the second phase of its project focused on potential financial reporting implications linked to the interest rate benchmark reform—interbank offer rate (IBOR) reform—to its work plan.

    August 15, 2019 WebPage Regulatory News
    News

    FED Updates Draft Instructions for Proposed FR Y-14 Reporting Forms

    FED updated draft instructions for the monthly, quarterly, and annual capital assessments and stress testing reports, also known as forms FR Y-14M, FR Y-14Q, FR Y-14A, respectively.

    August 15, 2019 WebPage Regulatory News
    News

    FASB Proposes Taxonomy Changes Related to Topics 326, 815, and 842

    FASB is proposing taxonomy improvements for the proposed Accounting Standards Update on clarifying the interactions among topic 321 on investments in equity securities), topic 323 on investments under equity method and joint ventures), and topic 815 on derivatives and hedging.

    August 15, 2019 WebPage Regulatory News
    News

    OCC Updates Bank Accounting Advisory Series in August 2019

    OCC released an update to the Bank Accounting Advisory Series (BAAS), which reflects accounting standards issued by FASB, through March 31, 2019, on topics such as hedging and credit losses.

    August 15, 2019 WebPage Regulatory News
    News

    APRA Consults on Final Phase Margin Rules for Uncleared Derivatives

    APRA is consulting on amendments to the prudential standard CPS 226 on margin and risk mitigation requirements for non-centrally cleared derivatives.

    August 14, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3656