There is increasing recognition that climate change and other ESG risks jeopardise the world’s economy and financial system. Financial institutions need to find the right balance between managing these risks and seizing the opportunities generated by the transition to a more sustainable world. They have a key role to play towards the reorientation of capital flows, the mitigation of risks and the financing of innovation to facilitate the energy transition and the long-term adaptation.
At Mazars, we are committed to helping our clients in the public and private sector implement the changes necessary to meet their sustainable development goals. We can support financial institutions navigating the complex risks and make the most of opportunities emerging from sustainability and climate change.
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...
Mazars and the Official Monetary and Financial Institutions Forum (OMFIF) are proud to have come together to produce a global report providing unique insight on current and upcoming financial regulatory evolutions aimed at tackling climate change. What policy adjustments are being undertaken in different jurisdictions around the world to assess and control climate risks? How are these actions...
Sustainable finance is expected to be a crucial factor in the post Covid-19 economic recovery period and regulators are encouraging banks to actively embed climate-related risks in their business operations and risk management frameworks. Against this backdrop, Mazars has analysed how 30 of the largest banks worldwide have been responding to climate-related financial risks.
New York, 22 September 2019 – The United Nations launched the Principles for Responsible Banking with the sign up of 130 international banks, collectively holding more than USD 47 trillion in assets. As the banking sector provides over 90 per cent of financing in developing countries and over two thirds worldwide, global action from the industry is a crucial step towards meeting the...
With rising global temperatures comes an ever growing pressure on the financial services sector to respond and prepare for the far reaching effects of climate change. The impacts upon the sector are already being felt – extreme weather events are creating significant losses for insurers and credit risks for banks, and pressures on businesses to demonstrate sustainable businesses and incorporate...
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How banks are responding to the financial risks of climate change