Second Edition of Network for Greening the Financial System Guide on Climate-Related Disclosure for Central Banks Published

The Network for Greening the Financial System has updated its guide on climate-related disclosure for central banks. The guide calls on central banks to disclose their climate-related risks and opportunities. The updated guide is organized around the four thematic areas identified by the Task Force on Climate-Related Financial Disclosures—governance, strategy, risk management, and metrics and targets. It builds on and aims to complement the original TCFD recommendations, providing additional guidance for central banks. The updates include: (i) a new chapter on metrics and targets benefits from the NGFS' work on sustainable and responsible investment; (ii) additional support on the disclosure of internal operations, building on work conducted by the NGFS subgroup on greening central banks' corporate operations; and (iii) new sections on the disclosure on institutional functions, i.e. monetary policy, supervision, financial stability. Looking ahead, the NGFS will build upon the guide to further strengthen its role as a forum for central banks to share their practical experiences and support one another in enhancing their climate-related measures.

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