BIS: Climate And Environmental Risks - Guide For Supervisors - Executive Summary Date
To help meet the goals of the 2015 Paris Agreement, the Network for Greening the Financial System (NGFS) aims to ensure that financial firms manage their climate-related and environmental risks. In May 2020, it published its Guide for Supervisors – Integrating climate-related and environmental risks into prudential supervision. The guide's recommendations provide authorities with a roadmap to integrate climate-related and environmental risks in supervisory frameworks and includes five recommendations. Recommendation 1 Supervisors should determine how climate-related and environmental risks transmit to their economies and financial sectors and identify material risks for supervised entities.