This, he said, can help us achieve: –  a better understanding of risks;  –  better pricing for investors;  –  better decisions by policymakers,  –  - and a smoother transition to a lower-carbon economy. These and other concerns are being shared by the Financial Stability Board, of which I am member and which Carney chairs.
In April, G20 Finance Ministers asked the Financial Stability Board to consider how the financial sector could take account of the risks climate change poses to our financial system. In response, the FSB initiated the plan to set up an industry-led disclosure task force on climate-relate risks in 2016. This initiative was welcomed by the G20.