Strengthening the Climate Information Architecture
Staff Climate Notes, September 8, 2021
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- Strengthening the Climate Information Architecture
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Bibliographic details
- Authors: Caio Ferreira, David L Rozumek, Ranjit Singh, Felix Suntheim
- Published: September 8, 2021
- Series: Staff Climate Notes
- DOI: https://doi.org/10.5089/9781513590790.066
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.
- The note provides a conceptual framework around the provision of climate-related information, discusses the progress made to date, and points toward the way forward.
- A decisive, globally coordinated effort is needed to move forward on all three fronts.
Three building blocks of a climate information architecture
- (1) high-quality, reliable, and comparable data;
- (2) a globally harmonized and consistent set of climate disclosure standards;
- (3) a globally agreed upon set of principles for climate finance taxonomies.
- Progress and convergence are required on all three building blocks.
Progress made to date
- The note discusses the progress made to date in the development of climate-related information provision and convergence efforts across data, disclosure standards, and taxonomies.
Way forward and policy implications
- A decisive, globally coordinated effort is needed to advance:
- high-quality, reliable, and comparable data;
- a globally harmonized and consistent set of climate disclosure standards;
- a globally agreed upon set of principles for climate finance taxonomies.
- The objective of advancing the climate information architecture is to improve market confidence, safeguard financial stability, and foster sustainable finance.
Content in this bundle
- Strengthening the Climate Information Architecture; September 8, 2021