The FSB issued the FSB Roadmap for Addressing Financial Risks from Climate Change: 2022 progress report noting that policy action to address such risks is more urgent than ever. The report notes the increased frequency and intensity of extreme weather and climate-related events, and the intense debate about current and future energy policies in many jurisdictions, highlights that financial risks related to climate change, including transition risks, are not just a long-term issue or tail event.
Effective action continues to rest on strong international coordination. The G20 has asked the FSB to deliver in July 2022 the first of its annual progress reports on the Roadmap. The report summaries the progress across all four blocks of the Roadmap:
- Firm-level disclosures
- Vulnerabilities analysis
- Regulatory and supervisory practices and tools
This progress report was prepared in consultation with standard-setting bodies and other relevant international bodies and serves as input into broader international policy considerations, such as at the G20, G7 and UN, as well as to the work under the G20 Sustainable Finance Working Group (SFWG) roadmap on sustainable finance.
A copy of the report can be viewed here.