City & Financial Global’s 3rd Annual Climate Risk & Regulation Summit on 3 December 2021 will address the huge swathe of new climate regulations being introduced on a regional, national and supranational level and provide a practical guide to navigating these regulations across jurisdictions. This presents significant challenges, and opportunities, for banks, asset managers and insurers.

Whilst there is increasing coordination among the NGFS and standard-setting bodies, such as the IFRS Foundation, there is growing concern about regulatory and policy fragmentation, which is rapidly becoming a reality at the individual country level. Such fragmentation could result in undesirable complexity and inconsistency.

In a recent IIF-EBF Global Climate Finance Survey of 70 financial institutions, 65% of institutions said that “green” regulatory market fragmentation was a big source of concern and would have a material impact on the market for sustainable finance. Central banks and regulators are themselves concerned about comparability and consistency of the evolving supervisory and conduct frameworks with respect to climate risk. Current and emerging sources of fragmentation include regulation and supervision; taxonomy eligibility and alignment; carbon pricing mechanisms; nature and biodiversity and capital markets.

All of these topics will be discussed in depth at the Climate Regulation Summit on 3 December, which will provide a practical guide to navigating cross-jurisdictional regulatory inconsistency and fragmentation. This is the third summit in the hugely successful Climate Risk & Green Finance Regulatory Forum series, attendance at which is invaluable for financial institutions who want to ensure that they are prepared for, and fully compliant with, emerging climate regulatory regimes, both here in the UK and internationally.

Conference website