Podcast: Supervisory Actions in Response to Climate Change at the Chilean Financial Market Commission (CMF)

Description of the resource:

This podcast with Carolina Flores Tapia presents the strategy of Chile's Financial Market Commission (CMF) to incorporate climate change into financial oversight. It details the work of the internal climate change group and its regulatory advances.

The main ideas:

1. Recognizes climate change as a risk that impacts financial stability and market development
2. Describe the public-private table on green finance, where several actors discuss how this climate change impacts different industries, and what are the roles that different institutions should play
3. Explain the need to integrate climate risk into prudential oversight and the disclosure of sustainability issues as well as financial issues

Why it's important:

It shows how a supervisor can integrate climate risk into their legal mandate and coordinates with public and private actors to strengthen capacities and regulation.