Disclosure task force on climate-related risks
The Financial Stability Board (FSB) has submitted a proposal to the G20 for the creation of an industry-led disclosure task force on climate-related risks. The proposal is in response to a request by the G20 in April to review how the financial sector can take account of climate-related issues. This task force could be modelled on the successful example of the FSB’s Enhanced Disclosure Task Force (EDTF) in order to develop voluntary, consistent climate-related disclosures that would be useful to lenders, insurers, investors and other stakeholders in understanding material financial risks. The note sets out a proposed way forward for such a task force, including some options for scope and objectives of the work the task force should address.