IMF joined the Paris-based Network for Greening the Financial System (NGFS) as an observer. The NGFS is a worldwide forum that brings together central banks and supervisors committed to understanding and managing the financial risks and opportunities associated with climate change. NGFS now includes 46-member institutions and nine observers that participate in three different work streams related to mitigating climate risks, including supervision, macro-financial issues, and mainstreaming green finance.
The NGFS was launched in December 2017 during the One Planet Summit in Paris. Tobias Adrian, the Financial Counselor and the Director of the Monetary and Capital Markets Department, IMF, said, "IMF is pleased to join the NGFS as an observer. This will allow us to contribute our institutional knowledge about the capabilities of central banks, financial supervision, and capital markets to help policymakers make far-sighted decisions that will help ‘green’ the financial system."
Keywords: International, Banking, France, NGFS, ESG, Climate Change Risks, Sustainable Finance, IMF
Previous ArticleAPRA Updates Guidance on Managing Information Security Risks
APRA announced the standardization of quarterly reporting due dates for authorized deposit-taking institutions.
Bundesbank published a list of "EntryPoints" that are accepted in its reporting system; the list provides taxonomy version and name of the module against each EntryPoint.
The private sector working group of ECB on euro risk-free rates published the recommendations to address events that would trigger fallbacks in the Euro Interbank Offered Rate (EURIBOR)-related contracts, along with the €STR-based EURIBOR fallback rates (rates that could be used if a fallback is triggered).
EBA published the phase 1 of its reporting framework 3.1, with the technical package covering the new reporting requirements for investment firms (under the implementing technical standards on investment firms reporting).
Asia Pacific Australia Banking APS 111 Capital Adequacy Regulatory Capital Basel RBNZ APRA
ESMA published the final guidelines on outsourcing to cloud service providers.
EBA published annual data for two key concepts and indicators in the Deposit Guarantee Schemes (DGS) Directive—available financial means and covered deposits.
OSFI has set out the schedule for release of draft guidance on the management of technology risks by federally regulated financial institutions and private pension plans.
MAS updated rules for new housing loans by banks and finance companies.
HKMA published a statement on the 100% Personal Loan Guarantee Scheme and a guideline on the Green and Sustainable Finance Grant Scheme (GSF Grant Scheme) as announced in the 2021-22 Budget.