The global sustainability network NGFS (Network for Greening the Financial System) is publishing today a report on how banks around the world consider climate-related risks in their lending. The report shows that this is occurring more frequently, but it is at the same time difficult to see which loans constitute a lower risk. This is because, for example, there is no international classification and a shared perception of which assets are “green” and “brown”.
FI will explore the possibility of advocating both nationally and internationally increased disclosure of firms’ internal carbon pricing.
FI’s Director General spoke today at the Finansdagen conference in Stockholm.
Erik Thedéen made the introductory speech at the first IOSCO SFN Stakeholder Meeting in Stockholm.
FI is publishing today three reports on sustainability. The reports show that the work with sustainability is progressing on several fronts and that the industry’s own initiatives, where relevant, are working. But there is still a lot of work left to be done. FI is also publishing a follow-up report for the Government on FI's work with sustainability-related matters in 2018.
The banks give greater consideration to sustainability aspects in their lending to corporates. However, FI sees a need for more transparency and comparability in the area of sustainability.
FI has conducted a number of supervision activities related to sustainability at the same time as the organisation has been partly restructured and received additional resources. During the year, FI's work has focused on integrating sustainability-related matters into its ongoing supervision, a project that will continue and be intensified.
The members of the international Network for Greening the Financial System (NGFS) acknowledge in their first report that climate-related risks are a source of financial risk. The Network therefore clarifies that it is within the mandates of central banks and supervisors to ensure the financial system is resilient to climate-related risks.
Finansinspektionen is publishing today two reports on sustainability. Together, they serve as the report to the Government that FI was tasked with earlier in the year on the continued work with sustainability issues, how these issues are linked to financial regulation and supervision and how supervision can contribute to sustainable development in a constructive manner.