The UK has launched a consultation on whether it would be helpful to develop its own Taxonomy, including for the purposes of “supporting the mobilisation of transition finance”. What do you think? Let Peter know. The consultation closes on 6 February.
On the other side of the Channel, the European Supervisory Authorities (ESAs) have run a climate stress test and decided that transition risk losses alone are unlikely to threaten EU financial stability. In combination with macroeconomic shocks, however, they may “lead to disruptions” – so the ESAs call for a “coordinated policy approach to financing the green transition” and for financial institutions “to integrate climate risks into their risk management in a comprehensive and timely manner”. Access the related report here.
