The Office of the Comptroller of the Currency will no longer follow interagency guidance on climate-related risk management for large financial institutions.
The full update can be found here on our US Regulatory Intelligence platform.
SEC Votes to End Defense of Climate Disclosure Rules
The SEC voted to end its defense of the rules requiring disclosure of climate-related risks and greenhouse gas emissions. The rules created a detailed and extensive special disclosure regime about climate risks for issuing and reporting companies.
The full update can be found here on our US Regulatory Intelligence platform.
NGFS publishes a Conceptual Note on Adaptation and a Synthesis Report on the greening of the financial system
On 14 November 2024, the Network for Greening the Financial System (NGFS) published a Conceptual Note on Adaptation and a Synthesis Report on the greening of the financial system.
Conceptual Note
The Conceptual Note is the first comprehensive exploration by the NGFS of climate adaptation and its implications for financial stability. It
TNFD publishes draft guidance on nature transition planning at COP16
On 27 October 2024, the Taskforce on Nature-related Financial Disclosures (TNFD) issued a discussion paper which sets out draft guidance on nature transition planning for corporates and financial institutions developing and disclosing a transition plan in line with the TNFD recommended disclosures.
Focus areas
The draft guidance covers all aspects of nature apart
NGFS publishes an information note on “Improving Greenhouse Gas Emissions Data”
- Outlines the use cases of Greenhouse Gas (GHG) emission data by supervisors, regulators and central banks. It describes the different countries’ experience about the availability, sources,
NGFS reports on nature-related risks
On 2 July 2024, the Network for Greening the Financial System (NGFS) published two complementary reports on nature-related risks:
This report covers key emerging trends related to nature-related litigation, including cases concerning biodiversity loss, deforestation, ocean degradation, carbon sinks and plastic pollution
NFGS issues updated guide on climate-related disclosure for central banks
On 19 June 2024, the Network for Greening the Financial System (NFGS) issued the second edition of its guide on climate-related disclosure for central banks.
The main objective of the guide is to offer practical support and inspiration to central banks that are taking their first steps in climate-related disclosure. It also
Upcoming webinar: ESG webinar part 3: Greenwashing in focus: Navigating the rise of enforcement
On Wednesday 12 June 2024, as part of our global ESG webinar series, please join us for the third instalment of this webinar series, as we expand on the greenwashing discussion held in the first webinar.
This webinar will feature a discussion from our NRF financial services enforcement team to provide a perspective on greenwashing
NGFS reports on Sustainable and Responsible Investment for Central Banks
On 16 May 2024, the Network for Greening the Financial System (NGFS) published a cover report and two technical documents on Sustainable and Responsible Investment (SRI) for Central Banks.
The cover report reviews SRI in central banks’ portfolio management, with practices and recommendations. It puts forward ten recommendations for central banks
NGFS scenarios for central banks and supervisors
On 7 November 2023, the Network for Greening the Financial System (NGFS) published the fourth vintage of its long-term climate macro-financial scenarios for forward-looking climate risks assessments. The NGFS scenarios explore the transition and physical impacts of climate change over a long time horizon and under varying assumptions.
The NGFS scenarios have been