Håndtering af klimaændringer: Mazars - OMFIF rapport
Mazars og OMFIF (Den uafhængige tænketank for monetære og finansielle institutioner) er stolte over sammen at have udarbejdet en global rapport, der giver en unik indsigt i aktuelle og kommende økonomiske regulatoriske udviklinger, der sigter mod at håndtere klimaændringer. Hvilke politiske tilpasninger foretages inden for forskellige retsområder verden over for at vurdere og kontrollere klimarisici? Hvordan vil disse handlinger udvikle sig i fremtiden? Find ud af det i vores nye forskning, og gør dig klar til radikale lovændringer.
Nedenstående indhold forefindes kun på engelsk!
Based on a survey of 33 central banks and regulatory authorities across the world, the report shows that most respondents now see climate risks as an important issue and acknowledge that a long-term response is needed.
Central banks now see climate change as ‘major threat’ to financial stability
The report finds that 70% of survey respondents consider climate change a major threat to financial stability, and many will integrate climate risks into supervisory practices and routine stress tests.
Just over half of central banks (55%) say they are monitoring climate risks, and a further 27% say they are actively responding to them. But there is disagreement over responsibilities, with 12% overall saying that, while they see climate change as a major risk, action should come from other policy institutions, such as government departments.
Regulatory approaches to climate risks
Central banks and regulatory authorities are increasingly integrating climate risks into their activities. Moving ahead, top measures expected are:
- Assessing climate risk as a financial risk in stress tests
- Encouraging or mandating climate-related financial disclosures
- Setting sustainability criteria standards for green finance/lending by regulated banks
While ‘market-fixing’ initiatives – which involve correcting market failures in financial markets – are gaining traction, central banks report being wary of using more interventionist ‘market-shaping’ prudential and monetary tools for climate purposes.
More climate stress-testing expected
The inclusion of climate-related considerations in stress tests is still at an early stage: only 15% of respondents currently include climate-related considerations in their routine stress tests of financial institutions. But this is set to soar, as nearly four-fifths (79%) say they intend to do so in the future.
Taking collective responsibility
Mazars and OMFIF believe that the success of any policy response will rely on the engagement of all market participants. Encouragingly, collaboration has already started between regulators and the private sector through various initiatives. With this survey, we hope to engage financial services leaders in a constructive dialogue and ignite conversations on how to best shape the green regulatory agenda or respond to changes in the regulatory field. Taking collective responsibility for creating the new foundations of a sustainable financial industry will contribute to building healthier economies and a fairer world – an ambition that sits at the heart of Mazars’ purpose.
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“TACKLING CLIMATE CHANGE: THE ROLE OF BANKING REGULATION AND SUPERVISION”
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How can Mazars help?
In response to the major threat posed by the climate emergency to financial stability, central banks and supervisory authorities are increasingly focussing on incorporating climate risk criteria when assessing and stress testing financial institutions. In addition, several initiatives such as the UNEPFI Principles for Responsible Banking and the Task Force on Climate related Financial Disclosures (TCFD) are gaining momentum, encouraging the scaling up of green financing. At Mazars, we can support financial institutions in responding to regulatory expectations, adhering to sustainability principles, and more broadly, navigating the complex risks and make the most of opportunities emerging from sustainability and climate change.