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Kiwi supervisor reworked NGFS scenarios to add increased severity of physical and transition climate risks.
Central bank body also found emerging market banks more upbeat about the cost of transition plans than developed market peers.
The move could see the East African country become a leader on climate supervision.
The minimum capital requirements for banks are also being reviewed for climate additions.
Separately, the ECB has published research on different types of carbon emissions regulations and what these could achieve,
Leaked documents have signalled the direction of future EU prudential rules around climate.
India is currently behind its peers on the development of a green taxonomy.
It follows a period of study on the topic building on the Bank’s 2021 climate change adaptation report.
More legal pushback on anti-ESG legislation and investigations expected.
The FSB has called on central banks to work across jurisdictions to overcome data and modelling limitations.