APRA wants banks to ‘urgently’ find better climate data
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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