The role of central banks in integrating TCFD reporting
Sustainable reporting and disclosure standards have expanded rapidly and the financial sector is grappling with understanding and implementing new requirements and expectations. The Task Force on Climate-related Financial Disclosures framework is fast becoming the standard for ensuring reliable climate-related financial information. It is also set to become mandatory in many jurisdictions. It is important that investors, lenders and insurers understand this framework as the environment changes, regulations evolve, new technologies emerge and customer behaviour shifts.
This off-the-record roundtable will discuss the role central banks will play in implementing the TCFD framework, as institutions integrate it into risk management and planning. Speakers will explore how the framework will converge with other standards, information and data. They will discuss how the framework will work around governance, strategy, risk management, metrics and targets, and the implications of the standard becoming mandatory for the financial sector in those jurisdictions.
Adam Banai, Executive Director, Magyar Nemzeti Bank
10:00-11:00 (New York)
This meeting will be conducted under the OMFIF Rules.
This virtual discussion is part of the OMFIF Sustainable Policy Institute. The SPI is a high level community which brings together central banks, sovereign funds, public pension funds, and their counterparts in asset management, banking and professional services to explore policy, regulatory and investment challenges posed by environmental, social and governance themes. See more information on OMFIF’s SPI here.
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Covering 22 countries and jurisdictions, the tracker presents information on 14 areas that include regulatory and supervisory measures, climate stress testing activity, net zero strategies, green bond issuance and disclosure requirements.