Urgent work is needed to plug holes in global financial regulatory frameworks to stave off a potential crisis emanating from a failing international systemic clearing house or insurer, the Financial Stability Board (FSB) warned.

In its third evaluation report on the global crisis financial reforms, the Basel Committee on Banking Supervision said bank resilience has increased with even greater strides seen from firms most impacted by the reforms helping to reduce systemic risk. 

Dozens of countries have embarked on developing their own sustainable taxonomies. Many use the ground-breaking, if flawed, EU taxonomy as a template. What degree of interoperability will emerge from these varying standards and how does the US, an outlier, fit in?

Around the world we are seeing nations and new networks ramping up their efforts to meet their climate goals and transition to a green economy. But the road ahead is far from smooth, and a number of real challenges can be seen on the horizon. We examine some of the key ESG headwinds we face and discuss their impact on global climate action, financing and the geopolitical landscape.

Banks now have a much clearer view over how they can interact with crypto-assets following the Basel Committee on Banking Supervision rolling out its final crypto standards. Though it reduces regulatory uncertainties, banks were largely disappointed.

Financial regulators converge on COP15 in Montreal on December 7-19 determined to push nature loss high up the supervisory agenda. How far will they go to establish rules for biodiversity that replicate the scenario-based stress tests and disclosure regimes coming into place for climate change?