The letter also notes the risks that climate change could pose to financial stability. In that context, the letter notes:

An important milestone in the FSB’s Climate Roadmap has been the publication of the International Sustainability Standards Board (ISSB)’s disclosure standards, which have been endorsed by the International Organization of Securities Commissions (IOSCO). The ISSB standards serve as a global framework for sustainability disclosures and, when implemented, will strengthen the comparability, consistency, and decision-usefulness of climate-related financial disclosures around the world. These standards can be seen as a culmination of the work of the FSB’s Task Force on Climate-related Financial Disclosures (TCFD).

The FSB states that it will work with the ISSB and other relevant bodies to promote the timely and wide use of the standards.

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