The third is the disclosure of climate-related financial risks. In this regard, the Task Force on Climate-related Financial Disclosures, or TCFD, was created in 2015, to develop climaterelated financial risk disclosures. In the final report by the TCFD released in 2017, a proposal was made on the basic elements to be disclosed regarding the impact of climate change on finance.
The research on CBDC can help efficiently satisfy the public's demand for fiat money in the context of digital economy. In July, together with the IMF and the World Bank, the BIS released a joint report entitled CBDC for Cross-border Payments, shedding light on the role of CBDC in promoting faster, cheaper and more transparent cross-border payments.