ARTICLE · 28 DECEMBER 2016

Global task force recommends mainstreaming climate related financial disclosure

Norton Rose Fulbright Australia

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The FSB recommendations seek to provide the framework by which climate related risk reporting can occur consistently.

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The Financial Stability Board's (FSB) Task Force on Climate-related Financial Disclosures (Task Force) published its recommendations on climate related financial disclosure on December 14, 2016. The final report will go to the G20 in May 2017.

In April 2015, the G20 asked the FSB to "convene public- and private-sector participants to review how the financial sector can take account of climate-related issues". In response, the Task Force was launched in December 2015 to develop recommendations for voluntary climate-related financial disclosures. It is chaired by Michael Bloomberg, and is made up of 32 members drawn from the private sector across G20 economies, including major companies, accounting firms, banks and insurers.

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