RBI steps up work on climate change

Reserve Bank of India HQ, Mumbai

The Reserve Bank of India is preparing to intervene more forcefully to tackle climate-related risks by launching a Sustainable Finance Group to lead its efforts.

Deputy governor M Rajeshwar Rao said the SFG would explore new supervisory and regulatory actions to help financial firms adapt to the physical and transition risks from climate change.

The group is looking at how to integrate climate-related risks into financial stability monitoring, including tools such as scenario analysis and

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