Finanstilsynet
Finanstilsynet will promote financial stability and well-functioning markets
  • Norwegian
    • Show this page in Norwegian
    • Norwegian home page
  • Contact
  • About us

    • Licensing
    • Supervision
    • Reporting
    • Laws and regulations
    • Decision on Pillar 2 requirements for individual banks
    • Investor alerts
    • Circulars
    • Letters
    • News
    • Press releases
    • Inspection report
    • Presentations
    • Publications
    • Finanstilsynet's registry
    • Approved prospectuses
    • Short Sale Register
    • Third country auditors and audit entities
  • Topics
  • Consumer protection
  • Search Search
Search Search

    • Licensing
    • Supervision
    • Reporting
    • Laws and regulations
    • Decision on Pillar 2 requirements for individual banks
    • Investor alerts
    • Circulars
    • Letters
    • News
    • Press releases
    • Inspection report
    • Presentations
    • Publications
    • Finanstilsynet's registry
    • Approved prospectuses
    • Short Sale Register
    • Third country auditors and audit entities
  • Topics
  • Consumer protection

About us
Contact
Norwegian
  • Show this page in Norwegian
  • Norwegian home page
Home
Topics
Climate risk

Climate risk

Published: 2 September 2019
Last updated: 10 March 2022

Financial markets and financial institutions are affected both by physical climate change and by the transition to a low emission society. High on the agenda is understanding how climate change may affect the financial system and the role of the supervisory authorities. Finanstilsynet's participation in this work involves developing methodology and supervisory tools.

News

  • 28.08.19: NGFS report: Technical supplement to the First comprehensive report
  • 21.06.19: Report - Climate risk and financial institutions
  • 17.04.19: NGFS First Progress Report

Finanstilsynet's work on climate risk

Finanstilsynet’s main objective is to promote financial stability and well-functioning markets. As in the case of other risk factors, the financial industry’s handling of climate risk should be followed up primarily through supervision of entities’ risk assessments and financial position. Finanstilsynet expects entities’ risk management systems to cover all significant risks, including risks related to the impact of climate changes and the transition to a low emission society.

There is a need for better knowledge on how various industries and regions will be impacted by climate change and the transition to a low emission economy. Work on measuring and modelling economic consequences of climate change, and on measures for financial institutions and financial markets, is in progress internationally, albeit at an early stage. The same is true of the development of relevant scenarios for use in scenario analyses and stress tests for climate risk. Finanstilsynet participates for example in the European supervisory effort and in the Network for Greening the Financial System (NGFS) on developing such a methodology.

Network for Greening the Financial System (NGFS)

The NGFS is a network of central banks and financial supervisory authorities sharing experience and best practices, contributing to the management of environmental and climate risk in the financial sector, and mobilising the financial industry to work for a sustainable economy. The network’s objective is to define and promote best practices both within and outside the NGFS, as well as doing sustainable finance analyses. Finanstilsynet and Norges Bank are both members of the network.

The NGFS is organised in three groups/workstreams: supervision (WS1), macrofinancial supervision (WS2) and green finance (WS3). Finanstilsynet participates in groups 1 and 2.

More information:

  • Network for Greening the Financial System (NGFS)

More information

  • EU Commission: Sustainable finance

Did you find what you were looking for?

Share this page:

  • Twitter
  • Facebook
  • LinkedIn
Sign up for news updates
  • Media enquiries
  • Contact
  • Notifications to Finanstilsynet
  • Information about eCommunication
  • Privacy policy and cookies
  • RSS

Visitor address:
Revierstredet 3, 0151 Oslo

 

Postal address:
P.O. Box 1187 Sentrum
NO-0107 Oslo
Norway

 

Phone: +47 22 93 98 00 
E-mail: post@finanstilsynet.no

 

Organisation number:
840 747 972