Regulatory Frameworks: Difference between revisions
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|[https://home.treasury.gov/news/press-releases/jy0426 Report on Climate-related Financial Risk] | |[https://home.treasury.gov/news/press-releases/jy0426 Report on Climate-related Financial Risk] | ||
Revision as of 19:37, 4 March 2025
We can sub-divide by sector (e.g. banking, insurance, pensions) and then by macro region (LatAm, NorthAm, EU/ UK) then by national jurisdiction (Canada, Mexico, United Kingdom, USA) then sub national jurisdiction (state/region).
Banking
| Region | Country | State | Policy Name | Policy Description | Issued by | Year | Status | Key words |
|---|---|---|---|---|---|---|---|---|
| Global | Supervisory and Regulatory Approaches to Climate-related Risks: Final report | The FSB calls for an acceleration of progress in the implementation of climate-related disclosures using a framework based on the TCFD Recommendations. It sets out four recommendations for financial authorities as they develop their disclosure framework. | Financial Stability Board (FSB) | 2022 | Active | Regulatory | ||
| EU | Guide on Climate-Related and Environmental Risks | The ECB published this guide to outline expectations for banks on managing and disclosing climate-related and environmental risks. It emphasizes the integration of these risks into banks' governance, strategy, and risk management frameworks.
In 2025, ECB made addressing deficiencies in business strategies and risk managements as regards climate-related and environmental risks as one of its three supervisory priorities for 2025 to 2027. Specifically, ECB states that " Banks should fully comply with supervisory expectations relating to the management of C&E risks, as well as requirements stemming from the new CRR3/CRD6 banking package (including those related to prudential transition plans), and should address identified shortcomings in a timely manner."[1] |
European Central Bank (ECB) | 2020 | Active | |||
| Global | Principles for the effective management and supervision of climate-related financial risks | The Basel Committee on Banking Supervision has published principles for the effective management and supervision of climate-related financial risks. The document forms part of the Committee's holistic approach to addressing climate-related financial risks to the global banking system and seeks to improve banks' risk management and supervisors' practices in this area. | The Basel Committee on Banking Supervision (BCBS) | 2022 | Active | |||
| North America | USA | Principles for Climate-Related Financial Risk Management for Large Financial Institutions | The Federal Reserve issued principles to guide large financial institutions in managing climate-related financial risks, focusing on governance, policies, and risk management practices. | Federal Reserve (Fed) | 2023 | Active | supervison, regulation | |
| Securities and Exchange Commission (SEC) | ||||||||
| North America | USA | Report on Climate-related Financial Risk | The FSOC published a comprehensive report identifying climate change as an emerging threat to U.S. financial stability and recommending actions to enhance the resilience of the financial system to climate-related risks. | Financial Stability Oversight Council (FSOC) | 2021 |
Insurance
| Region | Country | State | Policy Name | Issued by | Year | Status | Key words |
|---|---|---|---|---|---|---|---|
| North America | USA | Overview of climate risk related work by NAIC | NAIC | Active | |||
| North America | USA | WA | Commissioner's Office | ||||
| North America | USA | WA | |||||
| North America | USA | CA | |||||
| North America | USA | CA |
Pensions
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- ↑ ECB supervisory priorities 2025-2027. https://www.bankingsupervision.europa.eu/framework/priorities/html/ssm.supervisory_priorities202412~6f69ad032f.en.html#toc11