Regulatory briefing: FSB faces US backlash on climate risk proposals

The Financial Stability Board’s interim report on climate-related risks has drawn fire from US-based business and banking advocacy groups as the debate in the country on environmental regulation grows increasingly polarised.

Published in April, the ‘Supervisory and Regulatory Approaches to Climate-related Risks: Interim report’ is a key part of the FSB’s climate-change roadmap released in July last year. But in submissions to a formal consultation, US advocacy groups are openly critical of significant aspects of the approach taken by the G20 body, in effect implying that the FSB is going too far, too fast in pursuit of a green agenda.