PressreleasePress enquiries41 61 280 8486pressfsborgRef 202023 November 2020FSB examinesfinancial stability implications of climate change The Financial Stability Board FSB today published report that ID: 894626
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�� &#x/Att;¬he; [/; ott;&#xom ];&#x/BBo;&#xx [1;(.2;Ղ ;.4;1 4;x.3; 25;&#x.060; ]/;&#xSubt;&#xype ;&#x/Foo;&#xter ;&#x/Typ; /P; gin; tio;&#xn 00;&#x/Att;¬he; [/; ott;&#xom ];&#x/BBo;&#xx [1;(.2;Ղ ;.4;1 4;x.3; 25;&#x.060; ]/;&#xSubt;&#xype ;&#x/Foo;&#xter ;&#x/Typ; /P; gin; tio;&#xn 00;Switchboard: +41 61 280 80 80 Email: fsb@fsb.org CH4002 Basel, Switzerland Press release Press enquiries: +41 61 280 8486 press@fsb.org Ref: 2020 23 November 2020 FSB examinesfinancial stability implications of climate change The Financial Stability Board (FSB) today published report that examinesthepotential implications of climatechange for The report analyses how climaterelated risks might betransmitted across, and mightbe amplified by, the financial system, including across borders. It alsosets out next steps for the FSB’s work in this area Current central estimates of the impact of physical risks on asset prices appear relatively ��2 &#x/MCI; 0 ;&#x/MCI; 0 ;Notes to editorsThe 14 October 2020 communique of the G20 Finance Ministers and Central Bank Governors notes that the FSB is continuing to examine the financial stability implications ofclimate change. On 22 July 2020, the FSB published a Stocktake of financial authorities’ experience in inc
2 luding physical and transition climate
luding physical and transition climate risks as part of their financial stability monitoring . n April 2015 the G20 asked the FSB to consider climate risk and in December 2015 the FSB launched the industryled Task Force on Climaterelated Financial Disclosures (TCFD) to develop recommendations on climaterelated financial disclosures. The TCFD published its final recommendations in June 2017and its latest status report on 29 October 2020. The FSB coordinates at the international level the work of national financial authorities and international standardsetting bodies and develops and promotes the implementation of effective regulatory, supervisory, and other financial sector policies in the interest of financial stability. It brings together national authorities responsible for financial stability in 24 countries and jurisdictions, international financial institutions, sectorspecific international groupings of regulators and supervisors, and committees of central bank experts. The FSB also conducts outreach with approximately 70 other jurisdictions through its six Regional Consultative Groups.The FSB is chaired by Randal K. Quarles, Vice Chairman, US Federal Reserve; its Vice Chair is Klaas Knot, President of De Nederlandsche Bank. The FSB Secretariat is located in Basel, Switzerland, and hosted by the Bank for International Settlements.For further information on the FSB, visit the FSB websiwww.fsb.org .