G20 News

European Corporations Given Guidance on Factoring Climate Risk in Financials

The European Bank for Reconstruction and Development has published guidance for companies reporting on the physical impact of climate change in their financial results. Concerns in the financial community that assets are being mispriced because climate risk is not being …

Insurance Claims from G20 Riots in Germany Could Hit $13.8 Million

A group representing German insurers says the rioting that accompanied the Group of 20 summit earlier this month could cost insurance companies up to 12 million euros ($13.8 million). Host city Hamburg saw three nights of violence amid anti-globalization protests …

Bank of England Governor Warns Investors Failing to Consider Climate Risks

Bank of England Governor Mark Carney said he’s concerned investors aren’t doing enough to assess threats that global warming will have on assets they purchase. The central bank governor who also leads the Financial Stability Board advising the Group of …

G20 Task Force Develops Climate-Related Financial Disclosure Framework Supported by Insurers

A global task force set up by the G20 has developed a voluntary framework for companies to disclose the financial impact of climate-related risks and opportunities, drawing support from more than 100 companies with $11 trillion of assets. There are …

Insurer & Investor Group Urges G20 to Scrap Fossil Fuel Subsidies by 2020

Investors and insurers with more than $2.8 trillion in assets under management on Wednesday called on the Group of 20 economies to phase out fossil fuel subsidies by 2020 despite U.S. doubts about climate change. G20 nations should work “to …

Undoing U.S. Financial Regulations Could Bar U.S. Firms from EU

Some U.S. financial institutions could be locked out of the European market if Donald Trump’s administration repeals global rules imposed in the wake of the financial crisis, a top EU official said on Friday. Valdis Dombrovskis, vice president of the …

G20 Task Force to Ask Firms to Disclose How They Manage Climate Risks

A global task force set up to try to prevent market shocks from the warming of the planet will ask companies to disclose how they manage risks to their business from climate change and greenhouse gas emission cuts. Although the …

Simplifying Derivatives Rules Will Help Regulators Spot Systemic Risks: Industry

Regulators won’t get a clear picture of risks in the $550 trillion derivatives market until they prune trade reporting rules, a group of 13 industry bodies said on Wednesday. The collapse of Lehman Brothers bank in September 2008 left regulators …

200 Small Business Leaders Sign Open Letter Supporting ‘Brexit’

More than 200 small-business leaders signed an open letter calling for British withdrawal from the European Union, highlighting a division with large companies over membership of the bloc. The letter, published in the Daily Telegraph newspaper Thursday, said voters in …

G20 Puts ‘Brexit’ on List of Top Global Risks After Push by UK Government

British finance minister George Osborne pushed financial leaders from the top 20 economies to include the risk of Britain leaving the European Union in their list of dangers to the world economy on Saturday, gaining explicit support from the United …