Climate Impact Reporting at Early Stages

Banks have committed to disclose their climate risk exposures, as recommended three years ago by the Financial Stability Board’s (FSB) task force on climate-related financial disclosures (TCFD). However, standardised reporting of climate risks and opportunities and of their estimated financial impact is at early stages. Nevertheless, more banks are expected to disclose climate risks globally in response to growing investor and regulatory demand for information on bank exposure to physical and transition risks.