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FSB letter stresses importance of climate-related financial disclosures

  • IFRS - FSB (Financial Stability Board) Image
  • G20 Image

Mar 10, 2017

On March 10, 2017, the Financial Stability Board (FSB) issued a letter to the G20 Finance Ministers and Central Bank Governors who met in Baden-Baden, Germany, on March 17-18, 2017. The letter included new and emerging vulnerabilities identified by the FSB that need to be addressed.

In this context, the FSB noted the work of the Task Force on Climate-related Financial Disclosures (TCFD) and added:

Access to better quality information on climate-related financial risks is essential to enable market participants to better understand and manage these risks. Without the necessary information, market adjustments to climate change could be incomplete, late and potentially destabilising.

The FSB pointed out that the TCFD issued a consultation document with recommendations on climate-related disclosures in December 2016 that would be followed by June 2017 (and thus in time for the July G20 meeting in Hamburg) by the final report offering "a solution by the market for the market".

Review the full letter on the FSB's website.

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