FSB Chair notes the importance of interoperability

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11 Oct 2022

Ahead of their meeting on 13-14 October 2022, a letter of the Chair of the Financial Stability Board (FSB) was submitted to G20 Finance Ministers and Central Bank Governors outlining the work the FSB is undertaking to tackle current financial stability issues.

The letter notes the July 2022 FSB progress report on addressing climate-related financial risks and comments on the need for interoperability:

The development of climate-related corporate disclosures provides a unique opportunity to avoid harmful fragmentation and create a global baseline standard that enables users to compare and aggregate exposures across jurisdictions. Interoperability between the common global baseline and national and regional jurisdiction-specific requirements will be essential. This needs to be built in early on, and certainly before frameworks are finalised and become hard to adjust.

Please click to access the full letter on the FSB website.

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