Mark Carney: Remarks on the launch of the Recommendations of the Task Force on Climate-related Financial Disclosures

Remarks by Mr Mark Carney, Governor of the Bank of England and Chairman of the Financial Stability Board, on the launch of the Recommendations of the Task Force on Climate-related Financial Disclosures, at the Tate Modern, 14 December 2016.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
16 December 2016
by Mark Carney
PDF full text
(114kb)
  |  6 pages

Welcome

It is my great pleasure to have been invited, in my capacity as Chair of the Financial Stability Board (FSB), to help launch the Task Force on Climate-related Financial Disclosures consultative report.

In late 2015, at the request of the G201, the FSB established this private-sector, industry-led Task Force, under the leadership of Michael Bloomberg.

Its mandate was to develop recommendations for voluntary, consistent, comparable, clear and reliable disclosures around climate-related financial risks for companies. The purpose was to provide the information that investors, lenders, insurers and other stakeholders need to manage these risks, and seize the associated opportunities.