On 25 February 2021, the Financial Stability Board (FSB) published a letter from its chair to G20 Finance Ministers and Central Bank Governors. The letter notes the unprecedented challenges faced by the FSB due to the COVID-19 pandemic and the imposition of containment measures across the globe. The letter also discusses the key priorities in the FSB’s work programme for 2021. These priorities include bettering its understanding of climate-related risks. Building on its report on the financial stability implications of climate change, the FSB will assess the availability of data through which climate-related risks to financial stability could be monitored, as well as any data gaps. The FSB will also coordinate with other standard setting bodies to promote globally comparable, high-quality, and auditable standards of disclosure; and review regulatory and supervisory approaches to addressing climate-related risks at financial institutions.

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