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The report examines the application of the 2022 Basel principles for climate-related financial risks (CRFRs) in India, noting that their microprudential focus may create systemic risks. It proposes two macroprudential principles for the Reserve Bank of India (RBI): incentivising credible transition plans and supporting transition and adaptation finance. The document also details practical hurdles faced by Indian banks, such as data gaps and capacity constraints, and aligns the Basel framework with the RBI's 2022 Discussion Paper and 2024 Draft Disclosure Framework.

A manifesto signed by over 40 civil society organisations urging the European Central Bank to align its monetary policy with climate goals through green refinancing, the exclusion of carbon-intensive collateral, and the redirection of asset purchases toward sustainable firms.

The IEJ argues that the SARB's current focus on inflation targeting through interest rate manipulation is a 'blunt approach' that fails to address the external drivers of inflation—such as climate change and global oil prices—while hindering job creation and industrial productivity. The submission contends that the SARB's independence has led to insufficient coordination with the National Treasury, entrenching the economic status quo. To remedy this, the IEJ recommends expanding the SARB's mandate to explicitly include green structural transformation and poverty reduction, and tempering its independence to ensure closer cooperation with the Executive on socioeconomic stability.

The document examines how COVID-19 containment measures and the resulting economic crisis disrupted insurance operations, product cycles, and balance sheets across 18 sub-Saharan African markets. While the pandemic strained the sector and highlighted pre-existing weaknesses, it created a catalyst for forced digitisation and a regulatory imperative to remove barriers to innovation.

The document outlines the impact of Covid-19 on the African insurance sector and the subsequent regulatory responses in sub-Saharan Africa. It highlights a trade-off between providing regulatory relief to insurers and monitoring market vulnerabilities. While the pandemic hindered operations like premium collection and claims processing, it also created opportunities for digitalization and the adoption of regtech and suptech. The current research seeks to evaluate these responses to guide future stability and crisis management.

A coalition of civil society organisations and experts calls on Commissioner Albuquerque to implement recommendations from a November 2024 EIOPA report by reviewing the Solvency II framework. The authors argue that underpricing transition risks for fossil fuels distorts insurer investment decisions, increasing the likelihood of a disorderly transition and threatening broader financial stability.

More than 40 civil society organizations and 20 experts have called on the European Central Bank (ECB) to update its climate and nature approach. The signatories argue that current monetary policy, including high interest rates and the phasing out of asset purchases, has hampered green investment. They demand a new Climate Roadmap for the 2025 monetary policy strategy assessment, specifically recommending the update of the collateral framework, the tilting of securities in asset portfolios, and the introduction of green lending facilities to align the ECB's mandate with the EU's green transition goals.

The manifesto calls for the ECB to update its 2021 Climate Roadmap by introducing green refinancing operations, greening the collateral framework, and proactively tilting its asset portfolios. It argues that current monetary policies may distort the energy transition and that the ECB should use its toolkit to support a Paris-aligned transition to mitigate 'fossilflation' and systemic financial risks.

The document argues that Indian banks and NBFCs are in the early stages of climate action and face structural barriers. It proposes the use of integrated transition planning, drawing on 10 lessons from global banking experiences, to bridge the climate finance gap and maintain financial stability.

Reclaim Finance contends that the Capital Markets Union (CMU), as currently proposed, will not solve the EU's climate funding gap. The organization argues that the CMU's broad approach would benefit all sectors, including polluting industries, while simultaneously weakening prudential standards and supervisory mandates. Specifically, the document warns that the increased use of securitization under the CMU could facilitate lending to high-carbon activities and obscure associated risks unless strict 'green' definitions and barriers against fossil fuel financing are implemented.

Reclaim Finance contends that the Capital Markets Union (CMU), while promoted by EU leaders as a solution to the investment gap for the European Green Deal, is not inherently a green finance tool. The organization warns that without targeted safeguards and a clear definition of 'green' securitization, the CMU could stimulate investment in high-carbon activities and undermine financial stability by weakening prudential rules.

Reclaim Finance argues that the Capital Markets Union (CMU), as currently proposed, lacks the necessary environmental criteria to ensure that increased capital volumes support the ecological transition rather than polluting activities. The organization warns that some CMU measures could weaken prudential frameworks and supervisory mandates without considering climate risks. Reclaim Finance proposes that any CMU-related product or label must include strict climate criteria, including the exclusion of fossil fuel developers, and suggests alternative models like citizen-led sustainable project funds to avoid further financialization of the economy.

The report examines how the increasing frequency and severity of climate-driven disasters lead insurance companies to raise premiums or withdraw coverage, particularly in high-risk areas of the US. This process creates a 'domino effect' where the lack of affordable insurance makes homes unmortgageable, reduces property values, and increases homelessness. The authors highlight a cycle where insurers profit from these increases and reinvest in fossil fuels, further exacerbating the climate crisis. The document warns that widespread mortgage defaults and the devaluation of lender security could lead to a systemic financial crisis with global implications.

The Canadian Climate Institute evaluates the Office of the Superintendent of Financial Institutions' (OSFI) Standardized Climate Scenario Analysis Exercise (SCSAE), arguing that while it is a positive step toward normalizing climate risk management for federal financial institutions, it is currently 'exagérément simplifié'. The Institute recommends that the SCSAE move beyond simple exposure analysis to incorporate asset vulnerability, regional differences within Canada, and the economic opportunities presented by the clean energy transition to avoid distorting the financial risk landscape.

The report analyzes the March 2023 collapse of Silicon Valley Bank (SVB), attributing it to poor risk management, interest rate hikes, and the 2018 rollback of Dodd-Frank regulations. It highlights that while private equity (PE) firms faced immediate disruptions to subscription line loans, they may ultimately benefit by expanding into the private credit market. The author argues that the federal guarantee of all deposits prevents systemic collapse but risks incentivizing future risky behavior, recommending a return to stricter banking thresholds and the restoration of the Glass-Steagall Act.

The paper identifies a critical lack of robust climate risk data and analysis in Africa, which may lead to incorrect asset valuations and increased financial stability and sovereign risks. It proposes a six-category framework for climate risk information—data, analysis, disclosure and reporting, targets, risk management, and capacity-building—to help financial decision-makers close these gaps. While all four studied countries have initiatives for disclosure and reporting, South Africa shows the most comprehensive approach, covering five of the six categories. The author recommends that countries integrate financial sector transformation into their Nationally Determined Contributions (NDCs) and expand climate risk mapping to include public financial institutions.

The briefing reveals that the US Federal Reserve, Bank of England, and European Central Bank have invested in bonds from agribusinesses like Cargill, ADM, and Bunge, which are linked to deforestation and land-grabbing in regions such as the Brazilian Cerrado and Indonesia. The document argues that such investments subsidize environmentally destructive companies and send a negative signal to private investors. It highlights a gap between central banks' public climate commitments and their actual portfolios, noting that deforestation is often missing from their risk assessments and 'stress tests'. Global Witness recommends that central banks divest from deforestation-linked bonds, implement zero-deforestation policies, and increase prudential supervision of the private financial sector's exposure to these risks.

The report analyzes how insurance regulators in 31 sub-Saharan African countries responded to COVID-19, proposing a four-phase framework (Identify, Implement, Monitor, Adapt) to handle systemic risks. Key findings highlight the importance of risk-based supervision (RBS), proactive digital communication, and the need for real-time data via Suptech. It also identifies emerging future risks, including climate change, cyber-security, and political unrest.

ClientEarth argues that current Solvency II Pillar 1 capital requirements do not adequately capture financial risks from climate change, including transition risks for fossil fuel assets and systemic disruption risks. The document highlights the UK Government's review of Solvency II, which acknowledges that the solvency capital requirement (SCR) and matching adjustment may need amendments to better reflect long-term climate risks and stranded assets. ClientEarth calls on the European Commission to implement similar enhancements to ensure the resilience of EU insurers and maintain a level playing field with the UK.

The report warns that the 11 largest banks in the eurozone hold over 530 billion euros in fossil fuel assets, which represent 95% of their total equity on average. This overexposure creates a significant risk of 'stranded assets' as the world transitions to meet Paris Agreement goals. The authors argue that current 'green finance' is largely a greenwashing tool and that voluntary bank commitments are insufficient. They propose a two-step solution: first, implementing strict regulations and reforming European Central Bank (ECB) monetary policy to stop new fossil fuel funding; second, establishing a public 'fossil bank' under the ECB to buy back and gradually phase out these risky assets to protect financial stability and enable the ecological transition.