The central bank has given about 20 banks individual deadlines to fix their shortcomings in managing climate and environmental risks.
November 23, 2023The ECB is concerned that banks are not prepared for new climate and environmental risk disclosure standards that take effect mid-year.
April 25, 202360% of banks don't have a climate risk stress testing framework. Only 20% of banks consider climate risk when granting loans.
July 11, 2022Menon will serve a two-year term as chair of the NGFS, succeeding the ECB's Frank Elderson. Deutsche Bundesbank's Sabine Mauderer will serve as vice-chair.
January 18, 2022The “NGFS Glasgow Declaration” pledges central banks and supervisors to continue fostering action on climate change and greening the financial system.
November 5, 2021NGFS members do not yet envisage calibrating prudential policies such as capital requirements on the basis of climate scenario exercises.
October 22, 2021The research will seek to understand how central banks and supervisory authorities can fulfil their financial stability mandates in the context of biodiversity loss.
April 8, 2021Climate risks may be underestimated due to a lack of internal scenario analysis by financial institutions, the NGFS warns in a new report.
April 1, 2021The inclusion of Japan's FSA, BNM and Bank of Canada on the steering committee will widen the NGFS' global reach and strengthening its geographical representation.
November 24, 2020A new NGFS workstream being created will identify missing data items needed for effective climate-related and environmental risk analysis.
September 7, 2020