Reports

Title	Published by	Overview	Tag
Recommendations of the Task Force on Climate-related Financial Disclosures	Financial Stability Board	The TCFD's final report (2017) provides a framework for companies and financial institutions to disclose climate-related financial risks and opportunities. It focuses on four core areas: Governance, Strategy, Risk Management, and Metrics and Targets. TCFD's recommendations aim to improve transparency in how companies assess and manage climate-related risks and disclose these in financial filings. Impact: It has become the global benchmark for companies and governments looking to align climate-related reporting with financial disclosures.	financial disclosure
IPCC Sixth Assessment Report (AR6)	IPCC	IPCC AR6 is a comprehensive scientific assessment of the current state of knowledge on climate change, its impacts, and potential mitigation and adaptation strategies. Released in stages between 2021 and 2022, the AR6 provides a detailed evaluation of climate science, including updated climate projections, a deeper understanding of climate impacts across regions and sectors, and insights into how global warming is already affecting ecosystems and human systems.
The Enhancement and Standardization of Climate-Related Disclosures for Investors	Securities and Exchange Commission (SEC)	SEC is adopting amendments to its rules under the Securities Act and Exchange Act that 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.
Principles for Climate-Related Financial Risk Management for Large Financial Institutions	The Federal Deposit Insurance Corporation (FDIC)	A high-level framework for the safe and sound management of exposures to climate-related financial risks.
Understanding the impacts of climate change on real estate lending and investment portfolios	ClimateWise	This report shows how investors and lenders can make use of well-established insurance models, tools and metrics to improve their management of some of the physical risks of climate change. Natural catastrophe models have long been used by the insurance industry to assess and price extreme weather event risk, and hence help them and their clients manage these risks. This report shows how outputs from climate models can be used in combination with natural catastrophe models to assess some of the physical risks of climate change in different scenarios	catastrophe model, physical risk, insurance,
ECB economy-wide climate stress test	ECB	The objective of the ECB’s economy-wide climate stress test is to assess the resilience of non-financial corporations and euro area banks to transition and physical risk under climate policy scenarios. Within the analysis, three pillars and four distinct dimensions can be distinguished. The exercise reveals that an orderly and rapid transition minimizes costs and maximizes profits and offsets the short-term cost of transitioning to a zero-carbon economy, showing that companies and banks benefit from adopting green policies in order to boost zero-emission economy.	central banks, climate stress test
Guide on climate-related disclosure for central banks	NGFS	The guide offers practical support and inspiration to central banks at various stages of their climate-related disclosure journey, from those just starting out to those already advanced in their efforts. With this publication, NGFS reaffirms its support for a robust and internationally consistent climate-related disclosure framework.	central banks, financial disclosure, NGFS
Nature-related Financial Risks: a Conceptual Framework to guide Action by Central Banks and Supervisors	NGFS	The NGFS Conceptual Framework on nature-related financial risks provides a comprehensive guide for central banks and supervisors to navigate the complex challenges posed by the interaction between nature, climate, and the economy. This framework emphasises the critical need for policies that address both climate change and nature degradation in conjunction with each other, recognizing that actions to address climate change will fall short without considering nature. The report aims to enhance the understanding of nature-related risks and their implications for the economy and financial system, urging central banks and supervisors to assess and address nature degradation proactively. By offering a common understanding of these risks and providing illustrative cases on freshwater and forest ecosystems, the NGFS Conceptual Framework sets the stage for continuous knowledge development and experience in this vital field.	central banks
The Macroeconomic and Financial Stability Impacts of Climate Change Research Priorities	NGFS	This report discusses the NGFS research priorities related to the analysis of the macroeconomic and financial stability impacts of climate change. Its aim is not only to frame and inform the members’ own research efforts in this area but also to serve as a catalyst to mobilize and unify the broader research community around these research priorities. The NGFS research priorities follow two main themes: implications for financial system risk assessment and implications for macroeconomic assessment and monetary policy.
Climate Financial Risks: Assessing Convergence, Exploring Diversity	Council on Economic Policies	This paper shows that firms’ risk assessments across metrics are fairly heterogeneous but tend to converge on which firms are most and least exposed to transition risks. They also show that the temperature targets and time horizons underlying the metrics matter, although moderately, for the assessment of firms’ risk exposure and that providers using similar methodologies tend to deliver more convergent assessments. These findings contribute to the growing recognition that asset managers, investors, central banks and financial supervisors can and should use available metrics to better integrate climate risks into risk management and financial supervision.
Physical Climate Risk Assessment: Practical Lessons for the Development of Climate Scenarios with Extreme Weather Events from Emerging Markets and Developing Economies	The World Bank	This report focuses on evaluating the potential impacts of extreme weather events caused by climate change specifically in emerging markets and developing economies, providing practical guidance on how to develop climate scenarios tailored to these regions to assess their vulnerability and potential risks.	physical risk, climate scenarios
DOUBLE TROUBLE? Assessing Climate Physical and Transition Risks for the Moroccan Banking Sector	The World Bank	he purpose of this report is to better understand the impact of these climate risks on Morocco’s banking sector. This includes understanding the banking sector’s exposure to sectors and regions that are vulnerable to climate physical and transition risks, as well as a quantification of climate impacts on banks’ balance sheets under different scenarios. This report also takes stock of the Moroccan banking sector’s current risk management practices and the supervisory response to climate-related financial risks.	physical risk, transition risk
The 2023 Climate Risk Landscape	UNEP FI	UNEP FI’s 2023 Climate Risk Landscape report assists financial institutions in better understanding the diverse and dynamic landscape of climate risk tools. The report explores the major market trends in physical risk and transition risk tools and provides detailed analysis on dozens of individual tools.	physical risk, transition risk
Good practices for climaterelated and environmental risk management	ECB	This report is a key supervisory publication which shares observations and good practices illustrating the different ways that significant institutions can align their practices with the supervisory expectations set out in the Guide. It serves as a compendium to the ECB report on the results of the 2022 thematic review on climate-related and environmental risks.
Principles for the effective management and supervision of climate-related financial risks	Basel Committee on Banking Supervision	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.	supervision, scenario analysis
Climate-related risk drivers and their transmission channels	Basel Committee on Banking Supervision	This report explores how climate-related risk drivers, including physical risks and transition risks, can arise and affect both banks and the banking system via micro- and macroeconomic transmission channels.	physical risk, transition risk, macroeconomic transmission, microeconomic transmission
Final Report on the Prudential Treatment of Sustainability Risks for Insurers	European Insurance and Occupational Pensions Authority	Article 304c of the Solvency II Directive mandates EIOPA to assess the prudential treatment of assets linked to environmental or social objectives, and their impact on insurance and reinsurance undertakings in the EU. In response, EIOPA's report recommends additional capital requirements for fossil fuel assets on insurers' balance sheets to reflect their high risk. The findings, based on a risk-based analysis and stakeholder feedback, cover three areas: market risks related to climate transition, the impact of climate risk prevention on non-life underwriting, and the treatment of social risks.
European Insurers' Exposure to Physical Climate Change Risk	European Insurance and Occupational Pensions Authority	This report quantifies potential climate-change related transition risks and presents insights into possible impacts on these investments as economies transition away from fossil fuel-dependent energy production and carbon-intensive production.	physical risk, insurance
Physical Climate Risk Assessment Methodology (PCRAM)	Coalition for Climate Resilient Investment (CCRI)	In response to growing demand from investors for comprehensive solutions for improving the integration of physical climate risks (PCRs) into investment appraisal practices, CCRI has developed the Physical Climate Risk Assessment Methodology (PCRAM).
Modeling Climate Transition Risk: A Network Approach	CFA Institute of Research and Policy Center	This report advocates for a scenario-based approach to assess transition risks. It focuses on three layers where these risks manifest—the specific transition scenario, the broader economy, and the financial sector’s interactions.
Tipping Points in Climate-Related Insurance Modeling	SOA Research Institute	This report provides actuaries and other professionals working on climate-related risk with a methodology to identify climate regime shifts in different climate scenarios that could represent a “new normal” for insurers. As climate change occurs, insurers need new techniques to identify regime shifts: large sudden changes in systems that indicate a transition from one steady state in a system to another. By incorporating these new techniques and datasets into existing risk management, underwriting, pricing and investment management processes, insurers can prepare and adapt to a changing climate.	Insurance
Transition risk framework	Cambridge Institute for Sustainability Leadership (CISL)	The ClimateWise Transition Risk Framework helps investors and regulators manage risks and capture emerging opportunities from the low carbon transition. This unique framework was developed through the ClimateWise Insurance Advisory Council, and builds on the recommendations from the TCFD. The framework is set out in three steps, which can be used independently or combined to explore transition risks and opportunities. Each of the three steps highlights practical actions investors might take in order to manage risks and capture opportunities. The framework applies this analysis to an array of global infrastructure asset types.	transition risk
Climate Risk Source Book	Eurac’s Research Center for Climate Change and Transformation together with GIZ, UNU-EHS, GeoSphere Austria and IIASA	The Climate Risk Sourcebook (CR‐SB) delivers a conceptual framework for a comprehensive Climate Risk Assessment (CRA) together with modular instructions, divided in eight modules, on how it can be conducted (see figure below). It can be used: as a ‘beginners guide’ on CRA, for a rapid risk assessment at a sub‐national to local scale, to obtain an overview of the most relevant climate risks, or to prepare a more in‐depth risk assessment and/or for training purposes.	risk assessment