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APRA wants banks to ‘urgently’ find better climate data

James Eyers
James EyersSenior Reporter

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Investors and regulators will demand more sophisticated climate risk disclosure by banks, forcing lenders to find accurate, quantitative measures relating to emissions as pressure ramps up around ESG-related reporting.

A climate risk self-assessment survey published by the Australian Prudential Regulation Authority last month found nearly a quarter of banks, insurers and super funds had no proper metrics to measure and monitor climate risk. APRA considers climate risk could have a compounding impact on credit, market liquidity and operational risk and is keen to see banks develop better data sets to assess exposures.

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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au

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    Original URL: https://www.afr.com/companies/financial-services/apra-wants-banks-to-urgently-find-better-climate-data-20220907-p5bg7d