Financial institutions, supervisors, and academia around the world recognize that extreme climate events, as well as a disorderly transition to a low-carbon economy, could have destabilizing effects on the financial system. Climate-related financial risks, stemming from physical and transition risks, pose new challenges to financial authorities and institutions because they are subject to substantial uncertainty, long time horizons and tail-risk. The possible simultaneous occurrence of climate-risks across multiple jurisdictions and sectors also has implications for financial soundness.

To better understand how these climate-related physical and transition risks affect financial soundness, the BIS Innovation Hub Singapore Centre is hosting a roundtable at the Singapore FinTech Festival. The roundtable brings together central bankers, industry experts, and thought leaders from academia and the private sector to advance the discourse on how to bolster the financial sector’s resilience to environmental risks.

The roundtable discussion is split into two parts. In the first, participants will provide insights on both private and public sector programs/projects and use cases to bolster the resilience of financial institutions to environmental risks. In the second, participants will look ahead and share their views on how we can further develop our efforts to prepare financial institutions for the climate-related challenges to come.

Project Greenprint was conceived by MAS as a public-private initiative to co-develop digital utilities that power the sustainability data needs of countries, financial institutions and the real economy. Over the past two years, collaborators undertook multiple experiments to validate a range of core concepts and use cases. 
 
These learnings are powering the project’s next phase – the launch of an open and integrated Greenprint digital platform, that supports universal reporting needs and facilitates consent-based access to data, to power net zero initiatives and support the innovation of further solutions. These capabilities will drive national-level reporting in Singapore and other like-minded countries.
 
Hear from key collaborators as they opine on the potential opportunities and new horizons Greenprint will unlock.