Home / Uncategorized / Add climate-related financial stability risks to financial sector surveillance – IMF

Add climate-related financial stability risks to financial sector surveillance – IMF

Source: IMF

The Director-General of the International Monetary Fund (IMF), Kristalina Georgieva, has said countries will have to include climate-related financial stability risks in financial sector surveillance through standardized disclosure of these risks, enhanced stress tests, and assessments of supervisory frameworks.

Add climate-related financial stability risks to financial sector surveillance – IMF

She noted that Climate Change poses severe threats to economic and financial stability.

In a remark at the Climate Adaptation Summit, she said as world leaders aim to exit the COVID-19 pandemic and the economic crisis it has triggered “we must face a greater threat of a changing climate.”

She lamented that it is a fundamental risk to economic and financial stability and also an opportunity to reinvigorate growth and create new green jobs.

About Adoa News

Check Also

Concerned Drivers Association take steps to increase transport fares by 40%

A group of drivers known as the Concerned Drivers Association has in a recent communique …

Leave a Reply

Your email address will not be published. Required fields are marked *