As some top global banks scale back climate efforts, India is moving forward with mandatory rules for lenders to report and manage climate-related financial risks.
India’s central bank is close to finalising regulatory guidelines that will require banks and financial institutions to report and manage the risks they face from climate change, three sources with knowledge of the matter have confirmed.
The framework, under discussion since 2022, is expected to instruct financial entities to regularly disclose climate-related risks within their lending portfolios, including mitigation strategies and measurable targets. The aim is to improve transparency and help the financial system adapt to climate vulnerabilities.
According to the proposal, disclosures will be introduced on a voluntary basis starting from fiscal year 2027, with mandatory compliance from fiscal year 2028. India’s fiscal year runs from April to March.
In addition to disclosures, banks will be required to conduct periodic stress tests to evaluate the potential financial impact of adverse climate events, such as floods, droughts or extreme temperatures.
This initiative mirrors steps taken by countries such as the United Kingdom and Japan, which have made climate risk reporting compulsory in line with their commitments to a low-carbon economy.
The Reserve Bank of India’s move contrasts with the recent decisions of several leading global banks, including JP Morgan, Citibank, Morgan Stanley and HSBC, which have scaled back climate-related commitments. Analysts have suggested this trend may be influenced by the re-election of U.S. President Donald Trump, whose administration is widely seen as sceptical towards climate policy.
By advancing these regulations, India signals its commitment to integrating climate risk into financial governance, supporting green investment and safeguarding long-term financial stability.
The U.S. has banned government employees working in Saudi Arabia from using airports in the country without special authorisation. It com...
Student organisations, opposition groups and youth-led activists took to the streets in Patna and Mumbai on Friday (16 October), demanding the resi...
U.S. President Donald Trump has called it “a disgrace” that Ukraine has resumed attacks on Russian oil refineries. Attacks are continui...
The Saudi-led coalition said early Thursday that it intercepted and destroyed a drone over Saudi Arabia’s Eastern Province.
Yemen’s Houthis have claimed responsibility for the recent drone and missile strikes on Saudi Aramco facilities in Dhahran and Riyadh and at King Khalid International Airport in Saudi Arabia, vowing to carry out more attacks in the coming days.
The U.S. has banned government employees working in Saudi Arabia from using airports in the country without special authorisation. It comes after a deadly Houthi strike on Riyadh's King Khalid International Airport killed at least 13 people last week.
Ukraine's soldiers have had their access to Starlink satellite internet restricted. Kyiv's troops use the terminals, made by Elon Musk's SpaceX, to pilot drones. A source in Ukraine's Defence Ministry said the restrictions would make it harder for Kyiv's army to down Russian drones.
Ukraine is set to restart attacks on Russian oil refineries following a two-day pause, President Volodymyr Zelenskyy said, amid growing tensions with Washington over energy strikes and U.S. military support.
U.S. President Donald Trump has lifted sanctions on Russian diesel exports and announced a Russia-Ukraine energy ceasefire aimed at easing fuel prices ahead of November’s midterm elections. But can Moscow deliver and will the move will bring meaningful relief to markets?
Taiwan plans to buy 30 per cent of Alaska LNG's annual output and invest up to $4.4 billion in the project, but binding contracts and financing remain unresolved as the U.S. pushes to expand energy exports to Asia.
Asian stocks plunged to their lowest level in more than two months on Tuesday as advances by Chinese chipmakers rattled investor confidence in the artificial intelligence boom, despite soaring global semiconductor sales.
Artificial intelligence investment is helping sustain global growth at around 3 per cent, with Asia poised to reap major benefits. But soaring energy costs, unequal investment and growing pressure on young workers threaten to leave some economies behind.
Uzbekistan and Russia have a portfolio of more than 200 joint projects worth almost $6 billion, as the two countries continue to expand regional and business ties. The projects were discussed during the third meeting of the Council of Regions of Russia and Uzbekistan, held in Fergana, Uzbekistan.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment