The Financial Stability Board (FSB) today published a proposal to the G20 for the creation of an industry-led disclosure task force on climate-related risks. The proposal is in response to a request by the G20 in April to review how the financial sector can take account of climate-related issues.
This task force could be modelled on the successful example of the FSB’s Enhanced Disclosure Task Force (EDTF)1, in order to develop voluntary, consistent climate-related disclosures of the sort that would be useful to lenders, insurers, investors and other stakeholders in understanding material risks.
The note sets out a proposed way forward for such a task force, including some options for scope and objectives of the work the task force should address.
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