NGFS
Regulation can lead to more use of green credits in India: RBI
Regulators are becoming more interested in green credits and climate risk management, says Chief General Manager of RBI.
First G20 SFWG Summit concludes in Guwahati
The 1st SFWG meeting was attended in person by 95 delegates from G20 member countries, 10 invitee countries and 14 international organisations like IMF, NGFS, World Bank, UNDP, UNEP Fi, ADB, NDB, FSB among others. Many other international organisations joined the meeting virtually.
Loss and damage fund: Keep count of climate resilience
A $3-billion UN investment in early warning systems (EWS), the Coalition for Disaster Resilient Infrastructure's (CDRI) Infrastructure Resilience Accelerator Fund (IRAF) with a promised sum of $50 million, and the Global Shield Financing facility are some of the other funding sources that would support the agenda.
View: India Inc cannot take its eyes off ESG if it aims to become future-ready
Investors, on their part, are increasingly considering sustainable, responsible, and ethical practices when they assess corporate performance and risk. Asset managers also play an important role as active investors in companies and in influencing them as part of their larger stewardship role.
How RBI can prepare for climate-related risk management
Other central banks, including those of France, China, Malaysia and Japan, have also conducted, or are planning to conduct, scenario analyses and stress tests to check the resilience of their financial systems to climate risks. It's time RBI also picks up the baton.
Why RBI should be careful while framing ESG lending rules
In RBI's preamble, 'monetary stability' and 'currency and credit' occupy the centre stage. It is mandated to keep 'in mind the objective of growth'. There's no mention of 'sustainability'. Would it be wading into a territory where it does not have a mandate?
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RBI commits to integrate climate-related risks into fin stability monitoring activities
RBI says it is committed to integrating climate-related risks into financial stability monitoring as well as exploring use of climate scenario exercises to identify vulnerabilities in the central bank-supervised entities. The apex bank joined the Central Banks and Supervisors Network for Greening the Financial System (NGFS) as a Member on April 23, and aims to learn from as well as contribute to global efforts on green finance.
'Debate on whether to have climate risk finance under govt or regulators'
The RBI has started its own work on the issue, which includes forming an internal sustainable finance group which will come out with a guidance note shortly on how to go ahead, Deputy Governor M Rajeshwar Rao said.
View: Impact of climate change needs to be illustrated as potential risks & returns
As the clock ticks on climate change, it is ideal to begin by understanding what it means for India.
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