Earlier in March 2022, the NGFS published a ‘Statement on Nature-related Financial Risks’, which acknowledges that failure to account for, mitigate, and adapt to naturerelated risks could have significant macroeconomic implications and become a source of financial stability risk.
While guidance has been made available, regulated entities may need time, resources, and capacity to integrate  climate-related  considerations  into  their  decision-making  frameworks and customer facing business lines. Private Sector Initiatives 17.