This page provides highlights of our benchmarking of climate-related disclosures included in the 2021 annual reports of 35 major global banks. Our report shows that banks are aware of climate-related risks. Their disclosures describe risks they have identified and detail how they have set up governance structures to manage these risks.
Given banks’ traditional focus on risk management, it doesn’t come as much of a surprise that most of them provide detailed disclosures in this area.
The nature and extent of information on risk management varies among the banks. Those with more detailed disclosures generally provide more information in the following areas compared to those with less detailed disclosures.
- Identifying and describing the climate-related risks and their potential business impacts, as well as disclosing how they are managing climate-related risks.
- Identifying and describing other risks which are impacted by climate-related risks, in particular the impacts on credit risk.
- Whether/how climate-related risks are integrated into the overall risk management framework of identification, assessment, management and reporting of risks.
Get more insights
Read our benchmarking analysis on how banks reported on climate-related matters in the 2021 reporting season. The report includes the scope and approach of our analysis, and how we have assessed the disclosures as ‘more detailed’, ‘less detailed’ or ‘no disclosures’ provided.