REGULATORY APPROACH TO CLIMATE RELATED RISKS
On October 13, 2022, the Financial Stability Board (“FSB”) published a fulsome report summarizing public feedback received on a consultative version of the report (originally published in April 2022). The FSB, on which Canada participates, coordinates at the international level the work of national financial authorities and international standard-setting bodies to develop and promote the implementation of effective regulatory, supervisory, and other financial sector policies. The report provides a point-in-time snapshot of jurisdictions’ approaches, as well as high-level recommendations to promote consistency as authorities continue to develop their approaches further. The IIAC is pleased to provide a summary of the lengthy report, issued by BLG.