On June 30, ISDA, the Institute of International Finance (IIF) and the Global Financial Markets Association (GFMA) submitted a joint response to the Financial Stability Board (FSB) on its interim report on supervisory and regulatory approaches to climate-related risks.
The associations support and welcome the FSB’s initiative in developing the report to assist supervisory and regulatory authorities in developing their approaches to climate change, focusing on cross-sectoral and system-wide aspects of climate-related financial risks.
The associations consider climate change to be a critically urgent global issue, which warrants a globally coordinated and harmonized approach across jurisdictions, including in supervisory principles and standards with respect to climate risk management. As outlined in the response, the associations and their members consider that supervisory engagement, risk management, disclosure, and scenario analysis exercises are likely to be an effective toolkit for financial institutions to measure, manage, and take steps to mitigate climate-related risks.
ISDA’s members are committed to maintaining the safety and efficiency of the global financial markets and recognize that banks have a big role to play in the management of climate-related financial risks.
Documents (1) for ISDA, IIF, GFMA Respond to FSB on Climate-related Risks
Latest
ISDA In Review – June 2025
A compendium of links to new documents, research papers, press releases and comment letters published by ISDA in June 2025.
ISDA Presents Lock-Up Agreement Proposal
ISDA is pleased to present the proposed Lock-Up Agreements and CDS – Proposed Auction Solution. “Lock-Up Agreements” are market-wide arrangements, broadly standardized and predominantly integrated with court sanctioned restructuring or bankruptcy processes. Numerous end users will sign material Lock-Up Agreements...
Key Trends in OTC Derivatives Market H2 2024
The latest data from the Bank for International Settlements (BIS) over-the-counter (OTC) derivatives statistics shows a modest increase in notional outstanding during the second half of 2024 compared to the same period in 2023. Notional outstanding for interest rate, foreign...
Request to Extend Relief on No-Action Letter 22-18
On July 3, ISDA requested to extend the relief under the Commodity Futures Trading Commission's (CFTC) no-action letter No. 22-18. ISDA requests that the relief is extended until further action by the CFTC resolves the overlapping and contradictory reporting obligations...