Featured Product

    NGFS Updates Work Program for 2020-2022, Expands Membership

    September 03, 2020

    NGFS updated its work program and announced that during 2020-2022 it plans to continue its work on supervision, climate scenario analysis, and scaling up green finance. NGFS decided to create two new workstreams focusing on addressing data gaps and research. Also announced was the addition of three new members to NGFS over the last two months: the Bangko Sentral ng Pilipinas, the Bank of Mauritius, and the Isle of Man Financial Services Authority.

    Lack of data has been identified by NGFS as a crucial element for effective climate-related and environmental risk analysis. To bridge these data gaps, NGFS has set up a new workstream to identify what data is missing and determine whether it can be obtained. This new workstream on “Bridging the Data Gaps” will be co-chaired by Mr. Fabio Natalucci from IMF and Mr. Patrick Amis from the Single Supervisory Mechanism/ECB. The second new workstream will identify NGFS research topics and ensure smooth coordination of research efforts; this will be chaired by Mr. Ma Jun from the Chinese central bank PBC. In the coming weeks, NGFS plans to publish documents on environmental risk assessments by financial institutions. An update of the Guide for Sustainable Responsible Investments for Central Banks is also scheduled to be published before the end of 2020.

    In addition, NGFS announced changes to its governance and published a new charter. This document is the outcome of a periodic review to ensure adequacy of the NGFS governance framework in context of its objectives. An important result of this review has been the extension of the Steering Committee, the executive body of NGFS, to include ECB. Moreover, NGFS announced the appointment of new chairs for certain NGFS workstreams and reappointment of Mr. Frank Elderson of DNB as NGFS Chair for two more years.  

     

    Related Links 

    Keywords: International, Banking, Work Plan, Governance, ESG, Climate Change Risk, Green Finance, Data Gaps, NGFS

    Featured Experts
    Related Articles
    News

    EBA Finalizes Templates for One-Off Climate Risk Scenario Analysis

    The European Banking Authority (EBA) has published the final templates, and the associated guidance, for collecting climate-related data for the one-off Fit-for-55 climate risk scenario analysis.

    November 28, 2023 WebPage Regulatory News
    News

    EBA Mulls Inclusion of Environmental & Social Risks to Pillar 1 Rules

    The European Banking Authority (EBA) recently published a report that recommends enhancements to the Pillar 1 framework, under the prudential rules, to capture environmental and social risks.

    October 31, 2023 WebPage Regulatory News
    News

    BCBS Consults on Disclosure of Crypto-Asset Exposures of Banks

    As a follow on from its prudential standard on the treatment of crypto-asset exposures, the Basel Committee on Banking Supervision (BCBS) proposed disclosure requirements for crypto-asset exposures of banks.

    October 19, 2023 WebPage Regulatory News
    News

    BCBS and EBA Publish Results of Basel III Monitoring Exercise

    The Basel Committee on Banking Supervision (BCBS) and the European Banking Authority (EBA) have published results of the Basel III monitoring exercise.

    October 18, 2023 WebPage Regulatory News
    News

    PRA Updates Timeline for Final Basel III Rules, Issues Other Updates

    The Prudential Regulation Authority (PRA) recently issued a few regulatory updates for banks, with the updated Basel implementation timelines being the key among them.

    October 18, 2023 WebPage Regulatory News
    News

    US Treasury Sets Out Principles for Net-Zero Financing

    The U.S. Department of the Treasury has recently set out the principles for net-zero financing and investment.

    October 17, 2023 WebPage Regulatory News
    News

    EC Launches Survey on G7 Principles on Generative AI

    The European Commission (EC) launched a stakeholder survey on the draft International Guiding Principles for organizations developing advanced artificial intelligence (AI) systems.

    October 14, 2023 WebPage Regulatory News
    News

    ISSB Sustainability Standards Expected to Become Global Baseline

    The finalization of the two sustainability disclosure standards—IFRS S1 and IFRS S2—is expected to be a significant step forward in the harmonization of sustainability disclosures worldwide.

    September 18, 2023 WebPage Regulatory News
    News

    IOSCO, BIS, and FSB to Intensify Focus on Decentralized Finance

    Decentralized finance (DeFi) is expected to increase in prominence, finding traction in use cases such as lending, trading, and investing, without the intermediation of traditional financial institutions.

    September 18, 2023 WebPage Regulatory News
    News

    BCBS Assesses NSFR and Large Exposures Rules in US

    The Basel Committee on Banking Supervision (BCBS) published reports that assessed the overall implementation of the net stable funding ratio (NSFR) and the large exposures rules in the U.S.

    September 14, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8938