basel committee climate risks

The Basel Committee on Banking Supervision published responses to frequently asked questions to clarify how climate-related financial risks may be captured in existing Pillar 1 standards. Consistent with the objective of FAQs, the responses are intended to facilitate a globally consistent interpretation of existing standards given the unique features of climate-related financialContinue…

Global emissions Climate TRACE

The Climate TRACE coalition released the most detailed facility-level global inventory of greenhouse gas (GHG) emissions to date, including emissions data for 72,612 individual sources worldwide. The 70,000+ individual sites – including specific power plants, steel mills, urban road networks, and oil and gas fields – represent the top knownContinue…

climate resilient debt

The International Capital Market Association (ICMA) has published a new Climate Resilient Debt Clauses (CRDCs) which can defer a country’s debt repayments in the event of a pre-defined, severe climate shock or natural disaster. A standardised term sheet for this has been produced by the UK-convened Private Sector Working Group (PSWG): sub-group onContinue…

COP27 BOOST FOREST

Important progress on sustainable forest management and conservation has been made at the UN Climate Change Conference COP27 in Sharm el-Sheikh with the launch of the Forest and Climate Leaders’ Partnership (FCLP), which aims to unite action by governments, businesses and community leaders. The Partnership aims to boost action toContinue…

EU economy GreenHouse Gas Emissions

In the second quarter of 2022, EU economy greenhouse gas emissions totalled 905 million tonnes of CO2-equivalents (CO2-eq), a 3% increase compared with the same quarter of 2021. The documented increase is largely related to the effect of the economic rebound, which can be drawn from gross domestic product (GDP) growth, following the sharp decrease in activity dueContinue…

ISSB Partnership Framework: climate-related disclosure standards

The ISSB Partnership Framework at COP27 is a key announcement towards the implementation of climate-related disclosure standards in 2023 Since the establishment of the International Sustainability Standards Board (ISSB) announced at Glasgow’s COP26 the IFRS Foundation has delivered on its commitments to establish the board, consolidate the voluntary disclosure landscape, embed aContinue…