Podcast: Oversight Actions in Response to Climate Change in Latin America

Description of the resource:

This podcast with Mariana Escobar presents the strategy of the Colombian Financial Superintendency to integrate climate change into financial supervision.

The main ideas:

1. Recognizes that climate change involves risks and opportunities for the financial system and that its management requires data, coordination and appropriate oversight
2. Its “taxonomy table” between government entities works towards a taxonomy capable of responding to today's changing landscape
3. Explain the development of the thematic bond market and the publication of a Green Bond Guide to clarify the expectations associated with these instruments
4. It describes the carrying out of an analysis of the vulnerability of the financial system, in which the main physical and transition risks were identified

Why it's important:

This podcast demonstrates how a financial authority in an emerging market can make progress in integrating climate risk.