The final report of the Financial Stability Board (FSB) on Board and Regulatory Approaches to Climate-related Risks was published a few days ago.
The Financial Stability Board (FSB) has advised regulators on managing climate-related financial risks.
The FSB urges financial authorities to consider the potentially widespread impact of climate-related risks on the financial system.
The Financial Stability Board states that authorities should design climate scenario analyses and stress tests that “best inform a system-wide view”.
In addition, financial regulators are advised to cooperate by organising joint climate scenario exercises.
According to the FSB, the authorities should develop climate scenario analyses and stress tests with a global view.