Updates from around the world dealing with regulatory requirements, climate change, events and more.
The Basel Committee recommends mandatory climate risk disclosures for banks to detail their governance, risk management and exposure to climate-related risks, aiming for standardised global climate reporting by 2026.
Despite a rise in extreme weather events, the US has been slow to require companies to assess and disclose climate-related risks. Now, lawmakers in California have taken the initiative to propose two disclosure requirements for companies operating in the Golden state.
As the ECB makes climate risk a supervisory priority, a new study finds that 90% of eurozone banks are misaligned with EU climate law and face substantial exposure to potential credit losses.
Listed companies in Hong Kong and Singapore will be required to report climate risks in line with ISSB standards from 2025. These are the first mandatory ISSB requirements in Asia, which are expected to be followed by other APAC countries.
From the introduction of globally applicable climate disclosure standards to the publication of extensive climate risk management principles, guidance, and requirements from major central banks, 2023 was full of important developments.
The European Banking Authority has recommended the inclusion of climate and environmental risks into bank prudential rules under the Pillar 1 framework.
The pivotal COP 28 in Dubai is approaching: the summit is set to address critical issues such as sustainable investment strategies, the balance between fossil fuel dependencies, and the transition to a greener economy.
The European Central Bank (ECB) has begun enforcement measures against banks failing to assess climate and environmental risks across their portfolios. What's the solution for European Banks?
U.S. insurance companies have faced escalating climate risks, leading firms to pull out of some states to become uninsurable. What lessons can be drawn so far to overcome future risks?
Our planet faces increasing risks from climate change: heatwaves, fires, droughts, floods. June marked the highest global temperature ever recorded. What is the effect of climate change?
The U.S. energy infrastructure is struggling due to climate change impacts, facing elevated blackout risks and potential billion-dollar costs for utilities and customers. How are climate risks expected to inflict more damage to the U.S. energy infrastructure?
The world is grappling with the escalating consequences of climate change: as record-breaking heatwaves intensify and the risks of economic burdens expand, what challenges from climate-induced heatwaves lie ahead for the rest of this summer?
The idyllic summer vacation in Greece became a nightmare as wildfires ravaged the country last week. The wildfires inflicted damage on the tourist industry, local businesses and security infrastructure. Why is preparedness essential amid escalating climate change impacts, including wildfires?
