The High-Level Symposium on Environmental Taxation and the Conference on Climate organised by the Italian Presidency in Venice, respectively on 8 and 11 July, will provide important opportunities for discussing these issues and assessing the actions and commitments needed in the run-up to the COP-26. Coordinated action is also needed to strengthen the monitoring, measurement and management of climate-related financial risk.
The Financial Stability Board (FSB) coordinates the work on identifying and filling the data gaps, and promoting higher quality and comparability of information between jurisdictions, firms, and financial institutions. Financial firms’ valuations of sustainability risks could be improved if they were supported by the implementation of disclosure requirements or guidance, based on the recommendations issued by the FSB’s Task Force on Climate-related Financial Disclosures.