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© Getty Images Climate change is one of the greatest threats facing humanity. As such, the House Subcommittee on Investor Protection Entrepreneurship and Capital Markets is leading the discussion with a hearing today. The panel rightfully realizes that with a changing climate comes a completely new dimension of risk to the financial industry. One must only look toward the recent catastrophic winter storm damages to know that now is the time for financial regulators to proactively deal with this threat. While federal agencies must maintain appropriate boundaries between environmental policy a...

CAI MENG/CHINA DAILY Estimates say China will need to invest hundreds of trillions of yuan in low-carbon projects in order to achieve carbon neutrality, underlining the need for green finance development In his speech at the general debate of the 75th session of the United Nations General Assembly on Sept 22, 2020, President Xi Jinping pledged that China will strive to peak its carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060. To achieve this goal, China needs to speed up large-scale decarbonization in the electricity, transport, construction and industrial s...

BIS Launches Second Green Bond Fund For Central Banks Date 25/01/2021 The euro-denominated, open-ended green bond fund for central banks builds on the success of the first, US dollar-denominated green bond fund The two funds belong to the BIS's green bond fund initiative and invest in high-quality bonds that comply with international green standards and finance environmentally friendly projects The BIS and participating central banks are strongly committed to supporting environmentally responsible investment practices The Bank for International Settlements (BIS) has launched a euro-denom...

Highlights The Commodity Futures Trading Commission (CFTC) issued a report in September 2020 highlighting the risk that climate change poses to the stability of the U.S. financial system and the economy. The report, "Managing Climate Risk in the U.S. Financial System," was a detailed study of the topic that will provide insights to the Biden Administration's team of regulators. The CFTC report emphasized that regulators have sufficient existing legislative authority to begin addressing climate-related risks now, through better oversight, risk management and disclosures. Major findings in the ...