Finansinspektionen has an assignment to promote the financial system’s contribution to sustainable development. The sustainability report outlines the current sustainability issues that are related to the financial sector and lists examples of what FI is working on in this area.
Finansinspektionen is publishing today two reports on sustainability. Together, they serve as the report to the Government that FI was tasked with earlier in the year on the continued work with sustainability issues, how these issues are linked to financial regulation and supervision and how supervision can contribute to sustainable development in a constructive manner.
Sweden and Swedish financial institutions have small exposures to climate risks. This means that the current risk that climate changes will cause problems for financial stability is low. However, there is a need for more information as well as improved transparency surrounding climate-related risks within the sector. Financial institutions also need to develop stress tests and analyses in order to identify what kind of consequences could arise from these risks and how such consequences could be prevented.