Rory Robinson’s Post

📣 IFRS Foundation to assume responsibility for key materials developed by the Transition Plan Taskforce 📣 The IFRS Foundation announced this morning that it will assume responsibility for the disclosure-specific materials developed by the Transition Plan Taskforce (TPT). It will: 1️⃣ house these materials on the IFRS Sustainability Knowledge Hub, 2️⃣ in the near term, use these materials to develop educational materials, and 3️⃣ over time, use these materials when considering the need to enhance the application guidance within IFRS S2. Speaking on a panel with the International Sustainability Standards Board (ISSB)’s Vice Chair Sue Lloyd, the TPT’s co-chair Amanda Blanc welcomed this decision, which marks an important milestone in the creation of global norms for transition plan disclosure. We look forward to working with the IFRS Foundation over the coming months to support this process. For further details, please see the website of the IFRS Foundation: https://lnkd.in/eHG3hwup Amanda Blanc Duncan Clark Mark Fawcett, OBE Alan Vallance Mardi McBrien Katie Murray Sacha Sadan Mary Schapiro David Schwimmer Michelle Scrimgeour Tanya Steele CBE

Today - we are a launching our latest publications to support you to build your transition plan - more to come later today at https://lnkd.in/eC_V9twk You can still sign up for the live stream of our launch 18.00 BST from London Guildhall - Register at https://lnkd.in/e5U9JU6H

Today, we have published our latest thinking on climate-related risks and the regulatory capital frameworks. Whilst the report does not update the Bank’s policies, it updates on its thinking in key areas, highlights gaps in the current framework and exposes open questions that need to be addressed. Here's what we found: • As a priority, firms need to continue to embed PRA supervisory expectations and address capability gaps to better identify, measure and manage climate risks. The absence of controls might suggest a greater quantum of capital will be required. • Evidence suggests existing time horizons over which prudential risks are capitalised are appropriate for climate risks. The Bank will therefore continue to explore how climate risks can be calibrated within the capital frameworks’ existing timelines. • The nature of climate risks requires a more forward-looking approach than many other risks. Stress testing and scenario analysis will continue to represent key regulatory tools - the Bank, will take steps to further investigate how they can inform capital frameworks. • Further work is needed to assess potential regime gaps in the macroprudential framework. Any use of macroprudential tools would need to be assessed carefully against their mitigation of climate risks, their behavioural impacts, and the potential for unintended consequences. • Further exploration of these gaps is essential as a number of open questions remain. Regulators and central banks work in this space will be valuably supported by further research from external stakeholders. Read the full report to find out more about our findings and the key research questions identified: https://b-o-e.uk/428hD4P