Climate change and the energy transition are key challenges facing the economy and the financial sector. In the past year, we have taken important steps to identify the climate-related risks and opportunities of our own-account investment portfolios and to make our investments more sustainable.Read more
DNB publishes its first report on financial climate-related risks and opportunities in accordance with TCFD recommendations
Climate change and the energy transition are key challenges facing the economy and the financial sector. De Nederlandsche Bank (DNB) today presents its first progress report on financial climate-related risks and opportunities in its areas of responsibility, as part of its Annual Report.
In our report, we follow the recommendations of the Financial Stability Board's Task Force on Climate-related Financial Disclosures (TCFD). The report discloses the steps we take to identify and mitigate climate-related risks in our areas of responsibility, which are asset and liability management, supervision of the financial sector, economic advice and statistics. For example, we carried out a stress test to examine our balance sheet in relation to risks presented by the energy transition. In addition, we identified the carbon footprint of our own-account investments. In our report, we also describe how we encourage financial institutions subject to our supervision to manage their sustainability risks.
Task Force on Climate-related Financial Disclosures
We have based our progress report on the globally adopted recommendations issued by the TCFD. This makes us one of the first central banks in the world to report in accordance with this approach, following in the footsteps of the Bank of England. We plan to elaborate our report further each year to ensure that financial climate-related risks and opportunities are firmly embedded in our areas of responsibility.
More information Annual Report 2020