In 2015, the FSB submitted a proposal to the G20 to create an industry-led disclosure task force on climaterelated risks.2 The work of this FSB-sponsored Task Force on Climate-related Financial Disclosures, or TCFD, has led to greater recognition of the importance of climate-related financial risk and of comparable and reliable disclosure.
All of us, across all policy levels, should ensure that we use the thrust of the recovery to transform our economies and make them fit for the world of tomorrow, for instance by reducing and preventing climate risks. The ECB is ready to play its part in line with its mandate.