01.21.20
Financial Industry Needs Climate Risk Disclosure Standards: IMF
by: Kellie Mejdrich
The financial industry needs standards on climate risk disclosure and should learn how to conduct stress testing related to the looming threat, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said Friday during a speech at the Peterson Institute for International Economics. Georgieva said recent climate-linked events affecting financial markets have demonstrated that it is "a new driver of shocks and uncertainty." She added that BlackRock's move to join an investor climate change initiative "shows there is an awakening that climate-related financial risks are real."
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