RBNZ has started reporting its own verified carbon footprint in its annual report, and is working on integrating climate risks into its supervision frameworks.
The FCA’s experience with SMCR could inform senior management regimes in other jurisdictions such as Singapore, Australia and Hong Kong.
The review comes after two decades of the regulatory architecture of the domestic payments system being largely unchanged.
Kevin Stiroh, Co-chair of the Task Force on Climate-related Financial Risks, highlighted the importance of globally concerted efforts and information sharing.
As part of a vision to make Singapore the leading centre for green finance in Asia, MAS will incorporate climate-related scenarios in its annual stress tests “within the next two years”.