Supervisory authorities on both sides of the Atlantic are taking action to ensure that climate risks are appropriately assessed and accounted for by banks in their risk management practices. However, this is not just a transatlantic trend.
That being said, the increases in the transparency of the FOMC and the Federal Reserve System during the past decade have really been quite impressive, to the credit of those who have served the institution during that period. Experience has shown that this greater transparency has had many palpable benefits, including more effective monetary policy and better macroeconomic outcomes. BIS Review 57/2004  7