Регулаторни изисквания за оповестяването на информация относно климатичните аспекти в дейността на финансовите институции
Regulatory Disclosure Requirements of Information Regarding Climate Aspects in The Activities of Financial Institutions

Author(s): Emil Atanasov
Subject(s): Politics / Political Sciences, Politics, Economy, Business Economy / Management, Energy and Environmental Studies, Environmental and Energy policy, Financial Markets, Accounting - Business Administration
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: financial institutions; climate risks; non-financial reports
Summary/Abstract: Access to objective and comprehensive information about the activities of financial institutions is an important condition for the effective functioning of the financial sector. The European regulatory framework sets out a number of disclosure requirements to ensure that information about the risks and risk exposures of institutions will be available to all interested parties. Disclosure of climate- related risks enables financial market participants to build an adequate assessment of the effects and impact of physical and climate risks. Financial institutions, through their environmental policies, should report and, when necessary, prove to stakeholders their commitment to mitigating the negative consequences of climate change. In this way, it will be possible to create an objective view of the capacity of financial institutions to manage their activities within frameworks that guarantee limiting the negative impact of climate risks and increasing the positive impacts along the entire chain of value creation. The article presents regulatory requirements regarding the structure, content and characteristics of reports published by financial institutions regarding climate change and climate risks. They are an essential public tool for informing shareholders, regulators, partners and all stakeholders about financial institutions' own assessment of the climate impact of their activities. An important place in these reports is also occupied by policies and instruments for solving climate problems and neutralizing the negative consequences of climate change.

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