Staff Climate Notes

Strengthening the Climate Information Architecture

Author/Editor:

Caio Ferreira ; David L Rozumek ; Ranjit Singh ; Felix Suntheim

Publication Date:

September 8, 2021

Electronic Access:

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Summary:

Strengthening the climate information architecture is paramount to promote transparency and global comparability of data and thus improve market confidence, safeguard financial stability, and foster sustainable finance. This note provides a conceptual framework around the provision of climate-related information, discusses the progress made to date, and points toward the way forward. Progress and convergence are required on the three buildings blocks of a climate information architecture: (1) high-quality, reliable, and comparable data; (2) a globally harmonized and consistent set of climate disclosure standards; and (3) a globally agreed upon set of principles for climate finance taxonomies. A decisive, globally coordinated effort is needed to move forward on all three fronts.

Series:

Staff Climate Note No 2021/003

Subject:

Climate change Climate finance Environment Environmental sustainability