Coordinated, strategic approach needed by insurers, as supervisors step up efforts for consistent oversight of climate risk management.
China's central bank to begin quarterly assessments of 24 major banks on their green finance performance under a new evaluation system.
Central banks warn: 13% of global GDP would be at risk by end of century, even before accounting for severe weather events.
Exercise aims to support more robust management of climate-related financial risks across the sector, says governor.
Asset owners and managers encouraged to turn up the heat as banks prove slow to withdraw from historic relationships.
Oil and gas majors may be on the back foot this week, but they’re far from alone in needing to do more.
Transition frameworks need to account for nuances in strategies, asset managers say.
New guidelines incorporate 2018 changes to Corporate Governance Code, including greater stakeholder focus.
Most current business models do not reflect scale of change required.
New principle-based guidance for financial institutions introduces progressive system of transition categories, incorporates broader environmental outcomes.
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