Climate Risk Forum
Determining the Materiality of Climate-Related Financial Risk
- Compliance & Regulation, Economy & Markets, Growth & Innovation, Risk, Technology
- Compliance & Regulation, Risk, Technology
- Risk
What Is the ProSight Climate Risk Forum?
The ProSight Climate Risk Forum launched in September 2021 and brings together risk management professionals at financial institutions with the purpose of advancing awareness of and addressing risks relevant to climate change.
The 29 institutional members of the Climate Risk Forum include large, internationally-active U.S. banks, U.S. Super-regional and Regional Banks, large foreign-domiciled banks with operations in the U.S., and certain U.S. financial institutions specialized in market segments such as agricultural or real-estate credit.
Members of the groups are committed to:
Developing frameworks and recommendations for governance, disclosure, and risk management principles
Sharing experiences with peers
Helping to move the industry forward on the topic of climate change risk
Climate Risk Forum Initiatives
Governance
Helping banks develop a climate risk strategy, including risk appetite, training, policies, and Board assessments.
Disclosures
Communicating in a common voice to regulators and assessing/preparing for regulatory disclosures.
Risk Management
Developing common metrics and targets for reporting and benchmarking; organizational design for scenario analysis and stress testing.
NYDFS Proposed Guidance
Proposed Guidance for New York State Regulated Banking and Mortgage Organizations Relating to Management Of Material Financial Risks from Climate Change.
FRB Climate Principles
Principles for Climate-Related Financial Risk Management for Large Financial Institutions (Federal Reserve Board Docket No. OP-1793)
BCBS – Basel Committee on Bank Supervision
Proposed Principles for the Effective Management and Supervision of Climate-Related Financial Risks
Office of the Comptroller of the Currency
Proposed Principles for Climate-Related Financial Risk Management for Large Banks
Federal Deposit Insurance Corporation
Proposed Principles for Climate-Related Financial Risk Management for Large Financial Institutions (RIN 3064-ZA32)
Securities and Exchanges Commission
Proposed Framework for The Enhancement and Standardization of Climate-Related Disclosures for Investors, 87 Fed. Reg. 21334
Financial Stability Board
Interim Report on Supervisory and Regulatory Approaches to Climate-related Risks
ISSB – International Sustainability Standards Board
Exposure Draft of IFRS S2 Climate-Related Disclosures
Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation and Board of Governors of the Federal Reserve System
Joint Notice of Proposed Rulemaking to Amend the Regulations Implementing the Community Reinvestment Act Of 1977
Interested in joining the Climate Risk Forum?
U.S. Climate Regulatory Guide for Banking Organizations
This guide focuses on key legal and regulatory developments in the United States related to climate change and their impact on banking organizations. It also touches on related developments in environmental, social, and governance (“ESG”) issues, particularly as they relate to climate change regulation, and briefly addresses key international developments.
Additional Climate Content
- Compliance & Regulation, Economy & Markets, Growth & Innovation, Risk, Technology
- Compliance & Regulation, Risk, Technology
- Risk
- Compliance & Regulation, Economy & Markets, Fraud, Growth & Innovation, Risk
- Compliance & Regulation, Economy & Markets, Fraud, Growth & Innovation, Risk, Talent & Workforce
Join Us in Strengthening and Advancing the Industry
We’re helping financial professionals build a stronger future and act with confidence.
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