FSB roadmap for addressing climate-related financial risks

The Financial Stability Board (FSB) has published a letter from its Chair, Randal K. Quarles, to G20 Finance Ministers and Central Bank Governors ahead of their 9-10 July meeting. The letter stresses the need for coordinated action to address financial risks posed by climate change and notes the large number of international initiatives underway. The FSB has also published three climate-related reports:

• Roadmap for addressing climate-related financial risks;
• Report on the availability of data with which to monitor climate-related financial stability risks and remaining data gaps; and
• Report on promoting climate-related disclosures.