U.S. Treasury Secretary Janet Yellen will call on Wednesday for the World Bank to undertake additional reforms this year to expand its ability to help developing countries meet global challenges such as climate change.
The Bank of England will carry out further study as it is not yet clear whether it needs to require banks and insurers to set aside longer-term capital buffers to provide for the consequences of climate change.
Deutsche Bank on Thursday tightened its coal financing policies but has yet to change its criteria for the oil and gas industries, drawing criticism from climate activists.
A study group drawn from a number of private financial institutions on Monday laid out guidelines for financing low-carbon technologies and energy transition projects in Asia to help combat climate change.
After facing calls to resign for declining to say whether he accepts the scientific consensus on global warming, World Bank President David Malpass said on Thursday he is not a climate change denier and defended his climate record as bank chief.
Global regulators published a detailed checklist for banks to assess how climate change affects all aspects of their business, including pay and capital, as economies set carbon reduction targets.
Christian, Muslim and Jewish leaders joined United Nations officials on Monday in urging financial institutions to stop bankrolling activities that are driving climate change, including ending support for new fossil fuel projects.
