Regulatory Frameworks: Difference between revisions
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{| class="wikitable sortable" | {| class="wikitable sortable" | ||
|+Policy Database | |+Policy Database | ||
!Region !! Country | !Region !! Country | ||
!class="unsortable" | Policy Name | !class="unsortable" | Policy Name | ||
!class="unsortable"| Policy Description | !class="unsortable"| Policy Description | ||
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|Global | |Global | ||
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|[https://www.fsb.org/2022/10/supervisory-and-regulatory-approaches-to-climate-related-risks-final-report/ Supervisory and Regulatory Approaches to Climate-related Risks: Final report] | |[https://www.fsb.org/2022/10/supervisory-and-regulatory-approaches-to-climate-related-risks-final-report/ Supervisory and Regulatory Approaches to Climate-related Risks: Final report] | ||
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|Active | |Active | ||
|Regulatory | |Regulatory | ||
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|Global | |||
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|[https://www.bis.org/bcbs/publ/d532.htm 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 | |||
|supervision | |||
|- | |- | ||
|EU | |EU | ||
| | | | ||
|[https://www.bankingsupervision.europa.eu/ecb/pub/pdf/ssm.202011finalguideonclimate-relatedandenvironmentalrisks~58213f6564.en.pdf?utm_source=chatgpt.com Guide on Climate-Related and Environmental Risks] | |[https://www.bankingsupervision.europa.eu/ecb/pub/pdf/ssm.202011finalguideonclimate-relatedandenvironmentalrisks~58213f6564.en.pdf?utm_source=chatgpt.com Guide on Climate-Related and Environmental Risks] | ||
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|2020 | |2020 | ||
|Active | |Active | ||
| | |supervision | ||
|- | |- | ||
|North America | |North America | ||
|USA | |USA | ||
|[https://www.federalreserve.gov/supervisionreg/srletters/SR2309a1.pdf Principles for Climate-Related Financial Risk Management for Large Financial Institutions] | |[https://www.federalreserve.gov/supervisionreg/srletters/SR2309a1.pdf 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. | |The Federal Reserve issued principles to guide large financial institutions in managing climate-related financial risks, focusing on governance, policies, and risk management practices. | ||
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|supervison, regulation | |supervison, regulation | ||
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| | |North America | ||
| | |USA | ||
|[https://www.sec.gov/rules-regulations/2024/03/s7-10-22 The Enhancement and Standardization of Climate-Related Disclosures for Investors] | |[https://www.sec.gov/rules-regulations/2024/03/s7-10-22 The Enhancement and Standardization of Climate-Related Disclosures for Investors] | ||
|On March 6, 2024, the SEC adopted rules to enhance and standardize climate-related disclosures by public companies and in public offerings. | |On March 6, 2024, the SEC adopted rules to enhance and standardize climate-related disclosures by public companies and in public offerings. | ||
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|North America | |North America | ||
|USA | |USA | ||
|[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] | ||
|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. | |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. | ||
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|2021 | |2021 | ||
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| | |supervison, regulation | ||
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== Insurance == | == Insurance == | ||
Revision as of 21:15, 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 | 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 | |
| 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 | supervision | |
| 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 | supervision | |
| 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 |
| North America | USA | The Enhancement and Standardization of Climate-Related Disclosures for Investors | On March 6, 2024, the SEC adopted rules to enhance and standardize climate-related disclosures by public companies and in public offerings.
It will require registrants to provide certain climate-related information in their registration statements and annual reports. The final rules will require information about a registrant’s climate-related risks that have materially impacted, or are reasonably likely to have a material impact on, its business strategy, results of operations, or financial condition. In addition, under the final rules, certain disclosures related to severe weather events and other natural conditions will be required in a registrant’s audited financial statements. |
Securities and Exchange Commission (SEC) | 2024 | Active | supervison, regulation |
| 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 | supervison, regulation |
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