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Climate Change Risk Management Banks

Mintz

European Central Bank Plans to Fine Banks for Failures to Address Climate Change

Mintz on

It has been publicly reported that the European Central Bank is planning to impose financial penalties (albeit modest ones) on certain banks that have failed to adequately prepare for climate change. Specifically, the...more

Mayer Brown

Out With a Whimper: BCBS Publishes Climate Disclosure Framework

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On June 13, 2025, the Basel Committee on Banking Supervision (“BCBS”) published its framework for the disclosure of climate-related financial risks. The framework is entirely voluntary and has several notable changes from...more

Jones Day

From TCFD to CRFR: Decoding the Basel Committee’s Climate Disclosure Drive

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On June 13, 2025, the Basel Committee on Banking Supervision released a voluntary framework for climate-related financial risk disclosures, marking a significant advancement in global banking transparency. This framework...more

A&O Shearman

PRA consults on updated supervisory expectations to manage climate-related risks

A&O Shearman on

The Prudential Regulation Authority (PRA) has issued a consultation paper (CP10/25) and draft updates to the supervisory statement 3/19. The consultation aims to enhance supervisory expectations on the management of...more

A&O Shearman

FSB Chair Letter to G20 Finance Ministers

A&O Shearman on

The Financial Stability Board (FSB) has published a letter, along with a press release and webpage, from its Chair, Klaas Knot, to G20 finance ministers and central bank governors ahead of their meeting on 23-24 April. The...more

Mayer Brown

OCC Withdraws Climate Risk Management Principles

Mayer Brown on

On March 31, 2025, the Office of the Comptroller of the Currency withdrew its participation in the interagency principles for climate-related financial risk management for large financial institutions (the “Climate...more

Orrick, Herrington & Sutcliffe LLP

OCC withdraws climate risk guidelines for large banks

On March 31, the OCC announced that it had withdrawn from participating in the interagency principles for managing climate-related financial risks for large financial institutions....more

Jones Day

OCC Ends Climate Risk Guidance for Large Banks

Jones Day on

In a recent shift, the Office of the Comptroller of the Currency (OCC) has officially ended its climate risk guidance for large U.S. banks. The 2021 guidance called on major banks to incorporate climate-related risks into...more

Jones Day

Final Climate Risk Guidance Ensures Supervisory Focus from Banking Agencies in 2024

Jones Day on

The Situation: In October 2023, the Office of the Comptroller of the Currency ("OCC"), Federal Reserve System, and Federal Deposit Insurance Corporation ("FDIC," and the three agencies collectively, "Agencies") finalized...more

GeoDataVision

Coming Soon: Climate Risk Assessments for Banks – Are You Ready?

GeoDataVision on

Climate Risk Assessments for banking purposes are in the early stages of development. No laws or regulations have been issued regarding the topic. Nonetheless, it is obvious that lawmakers and regulators are keenly intent on...more

Cadwalader, Wickersham & Taft LLP

EIB Announces New Measures to Address Biodiversity Loss

On September 20, 2023, the European Investment Bank (EIB) announced that it was developing a methodology to assess its clients’ exposure to nature-related impacts and risks. The EIB reinforced its commitment to address...more

Cadwalader, Wickersham & Taft LLP

Bank of England Issues Updated Assessment of Climate-Related Risks and Regulatory Capital Requirements for Financial Institutions

The Bank of England released a report titled Climate-Related Risks and the Regulatory Capital Framework (Report) on March 13, 2023. The Report expands on the Bank’s 2021 Climate Change Adaptation Report (CCAR), in which it...more

Cadwalader, Wickersham & Taft LLP

Federal Reserve Announces Pilot Climate Scenario Analysis Exercise Details

Last week, the Federal Reserve Board (FRB) announced additional details on its pilot climate scenario analysis (CSA) involving six of the largest U.S. banks. The additional details include a Participant Instructions Document...more

Cadwalader, Wickersham & Taft LLP

FRB Proposes Climate-Related Financial Risk Management Principles

Recently, the Federal Reserve Board (“FRB”) proposed principles for climate-related financial risk management for large financial institutions. The proposed guidance is open for comment until 60 days after publication in the...more

Cadwalader, Wickersham & Taft LLP

Basel Committee Issues Principles on Management and Supervision of Climate-Related Financial Risks

On June 15, the Basel Committee on Banking Supervision (“BCBS”) issued its Principles for the effective management and supervision of climate-related financial risks (the “Principles”). In its release, the BCBS stated that it...more

Goodwin

OCC Seeks Feedback on Principles for Climate-Related Financial Risk Management

Goodwin on

In this Issue. The Office of the Comptroller of the Currency (OCC) is seeking feedback on principles for climate-related financial risk management for large banks; the Department of Justice’s Antitrust Division is seeking...more

Alston & Bird

The Longer Term Does Arrive over Time—Financial Services Regulators and Investors Gearing Up for Climate Change Reforms

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Swans can be white or black or … green? Our Financial Services & Products and Securities Groups consider climate change and environmental, social, and governance (ESG) expectations for financial services firms and highlight...more

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