Climate change
New Hong Kong fund rules collide with China’s poor ESG data
Under proposed rules, funds will need climate risk data from investee firms, many of them Chinese
No short answer: hedge funds hesitate on Europe’s ESG rules
SFDR sustainability calculations leave firms uncertain how short positions should be disclosed
Climate shocks could cut ‘polluting’ EU funds’ value by 20%
Esma researchers say carbon-intensive funds also pose more of a systemic risk
EBA faces backlash over ‘green asset ratio’
Bankers reject proposed climate risk measure as flawed and even ‘dangerous’
Top 10 op risks 2021: regulatory risk
Big dip in fines belies lingering fears over Covid loan mis-selling and sanctions risk
UK seeks to take the lead on climate risk standards
New research centre intended to help UK financial firms build better climate risk models
After Texas storm, CFTC’s Behnam renews carbon trading push
Smaller banks imperilled by economic shocks from freak weather, says acting CFTC chair
Funds rush to take the temperature of their portfolios
Big investors, including BlackRock, are using new metrics to measure their funds’ carbon emissions
European funds fret over merits and risks of ethical labels
Managers unsure whether to “aspire to” or “run away” from new ESG classifications for funds
EU fund managers confused by new ESG designations
Vague rules leave managers unsure which categories to apply to their funds
Estimating financial risks from the energy transition: potential impacts from decarbonization in the European power sector
The authors present an integrated assessment of energy transition risk that links future energy scenarios to a structural economic model.
FSB offers loud warning and muted response on climate risk
Global regulators say risks are near-term and cross-border, but propose only data collection
Banks explore ESG-linked deal contingents
Trend for tying derivatives to ethical criteria could soon extend to deal contingent hedges
CFTC’s Behnam: regulators must be alert to ‘greenwashing’
Risk USA: ESG products that miss sustainability goals may fall foul of customer protection rules
BoE warns banks: start preparing for a higher carbon price
Risk Live: stress tests should assume rising carbon price, regardless of government policy, says Breeden
Joe Biden’s slow road to remaking US financial regulation
Moves on climate risk could come early; other changes may have to wait until end of 2021, or later
Banks fold climate, pandemic and cyber risks into CCAR
OpRisk North America: anchoring idiosyncratic risks to macro scenarios a challenge, say experts
Banks, regulators call for global climate risk standards
Carney and Winters warn private sector cannot move much further without lawmakers
Fulcrum hangs ESG designs on honing hard numbers
ESG risks will become part of investment and risk management processes across all funds at the firm
Podcast: the difficulties of decarbonisation
What are energy firms doing to measure and mitigate transition risk?
CalSTRS CIO: new derivatives needed to hedge ESG risks
Second-largest US pension fund has also reduced fixed income allocation to 12% as rates have fallen
State regulators could lead on CFTC climate risk plans
Sympathetic rulemakers don’t need to wait for a change of federal government, say experts
Q&A: Robert Litterman on the CFTC climate risk report
Chair of industry sub-committee – and famed quant – says carbon dividend plan essential to create right incentives
Deal of the year: Deutsche Bank
Asia Risk Awards 2020