Chile - Financial Sector Assessment Program : Climate Risks and Finance
This technical note explores the consequences of climate risks for the Chilean financial sector, and the role the financial sector can play in mobilizing resources to finance Chile’s transition to a climate resilient and low carbon economy. Globall...
| Main Authors: | , |
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| Format: | Report |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2022
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/099455007152291147/P172020004a2e80c3092960fbcc796be817 http://hdl.handle.net/10986/37763 |
| Summary: | This technical note explores the
consequences of climate risks for the Chilean financial
sector, and the role the financial sector can play in
mobilizing resources to finance Chile’s transition to a
climate resilient and low carbon economy. Globally, there is
increasing attention being paid to the impact of climate
related and environment risks (CRER) on the financial
sector. Regulators and central banks – through the Network
for Greening the Financial System (NGFS) among other fora –
are warning of the impact of CRER on the stability and
soundness of financial sectors. These calls follow attention
paid to this topic by the FSB Task Force on Climate-related
Financial Disclosures (TCFD) and the G20 Sustainable Finance
Working Group. There is also global recognition of the
importance of financial sectors in mobilizing resources to
meet the investment need coming from transitioning to a
climate resilient and low carbon society as public resources
and concessional finance are not sufficient. Part one will
assess how the financial authorities understand and address
climate risks. Part two will assess Chile’s efforts to
stimulate climate finance. |
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