The Bank of England will carry out further study as it is not yet clear whether it needs to require banks and insurers to set aside longer-term capital buffers to provide for the consequences of climate change.
Deutsche Bank on Thursday tightened its coal financing policies but has yet to change its criteria for the oil and gas industries, drawing criticism from climate activists.
A study group drawn from a number of private financial institutions on Monday laid out guidelines for financing low-carbon technologies and energy transition projects in Asia to help combat climate change.
Global regulators published a detailed checklist for banks to assess how climate change affects all aspects of their business, including pay and capital, as economies set carbon reduction targets.
Christian, Muslim and Jewish leaders joined United Nations officials on Monday in urging financial institutions to stop bankrolling activities that are driving climate change, including ending support for new fossil fuel projects.
Financial services groups responsible for more than $90 trillion in assets have called for the leaders of the world's largest economies to push through "clear, credible and ambitious" policies to battle climate change.
Where COVID-19 has precipitated unprecedented debts, climate change could trigger defaults across a planet which a United Nations panel says is dangerously close to runaway warming.
