Data on climate-related financial risks are scarce and often chaotic, since there is no framework that standardises their disclosure. As a first step to change this, an industry-led task force convened by the Financial Stability Board recently published recommendations for voluntary, consistent and comparable disclosures of such risks by corporates.
This is an important first step, and its success will depend on whether a critical mass of corporates follows the recommendations. In parallel, the G20 is working on improving the availability of public environmental data. The next step we need to take is to improve analytical tools.