Supervisory and regulatory approaches to climate-related risks: interim report

This report aims to assist supervisory and regulatory authorities in developing their approaches to monitor, manage and mitigate risks arising from climate change and to promote consistent approaches across sectors and jurisdictions. By focusing on cross-sectoral and system-wide aspects of climate-related financial risks, it complements the standard-setting bodies’ ongoing work on approaches to addressing climate-related financial risks for their respective sectors.

Climate-related risks, including physical, transition and liability risks, may be transmitted across the financial system through various transmission channels and may be amplified by the financial system, including across borders and across sectors. A more consistent global approach to addressing climate-related risks will help to better assess and mitigate financial vulnerabilities and reduce the risk of harmful market fragmentation.