Kingdom of the Netherlands-The Netherlands: Financial Sector Assessment Program- Technical Note on Supervision and Disclosure of Climate-Related Risks
IMF Staff Country Reports, June 18, 2024
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- Kingdom of the Netherlands-The Netherlands: Financial Sector Assessment Program- Technical Note on Supervision and Disclosure of Climate-Related Risks
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Bibliographic details
- Published: June 18, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400280061.002
Executive summary and scope
- Presents a technical note on supervision and disclosure of climate-related risks in The Netherlands.
- Focuses on supervision of banking and insurance activities conducted in the Netherlands with a direct bearing on its financial stability.
- Publication date: June 18, 2024.
- Pages: 38; Volume: 2024; Issue: 172; Series: Country Report No. 2024/172.
- DOI: https://doi.org/10.5089/9798400280061.002
- Stock No: 1NLDEA2024008; ISBN: 9798400280061; ISSN: 1934-7685.
Key findings on current supervisory practice
- Integration of climate-related risks into supervisory processes in the Netherlands faces various challenges, similar to other jurisdictions.
- Supervision has been proactive in:
- researching exposures to climate-related risks;
- designing tools to assess how financial institutions identify, monitor, and manage these risks.
- Supervisors have been gradually developing approaches and methodologies to support the supervisory process.
- Many initiatives and projects from Dutch supervisors have been influential in the international debate on climate risk supervision.
Identified gaps and necessary developments
- Authorities need to translate strategic measures into a concrete roadmap to ensure that the process of setting up climate risk supervision is systematic and continues at a sufficiently ambitious pace.
- Going forward, climate risk supervision must strengthen:
- quantitative tools;
- data sets.
Principal recommendations (summary)
- Enhance the supervision of banking and insurance activities in the Netherlands by:
- converting strategic measures into a concrete, time-bound roadmap for climate risk supervision;
- expanding and strengthening quantitative supervisory tools for climate risk assessment;
- improving data collection and data sets to support quantitative analysis and monitoring;
- continuing development of methodologies and approaches to integrate climate risks into supervisory processes.
Subject areas and keywords
- Subject: Climate change, Climate finance, Environment, Financial institutions, Insurance companies, International organization, Monetary policy, Natural disasters.
- Keywords: Climate change, Climate finance, climate risk analysis, Global, Insurance companies, Natural disasters, nitrogen in the Netherlands, Rijksdienst voor Ondernemend Nederland, solvency ASSESSMENT, staff team of the International Monetary Fund.
Source: IMF Staff Country Reports — "Kingdom of the Netherlands-The Netherlands: Financial Sector Assessment Program- Technical Note on Supervision and Disclosure of Climate-Related Risks", June 18, 2024.
Content in this bundle
- Technical Note — Netherlands: Climate-Related Risks in Banks and Insurers