What Are RMA's Climate Risk Consortia?
RMA’s Climate Risk Consortium—comprised of large banks located worldwide—and its new Regional Bank Climate Risk Consortium bring together risk management professionals at financial institutions with the purpose of advancing awareness of and addressing risks relevant to climate change.
Members of the groups are committed to:
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Developing frameworks and recommendations for governance, disclosure, and risk management principles |
Sharing experiences with peers |
Helping to move the industry forward on the topic of climate change risk |
Interested in joining the Climate Risk Consortia?
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Member Banks:
Currently, 31 large financial institutions and 11 regional banks are involved in the inaugural year of RMA's Climate Risk Consortia, including RMA’s newly formed Regional Bank Climate Risk Consortium. Read more about this group, which includes Webster Bank and Zions Bancorporation, here.
RMA’s Large Bank Climate Risk Consortium is composed of an international group of financial institutions that includes:
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The Consortium launched in September 2021 and is chaired by Mary Obasi, Global Climate Risk Executive, Bank of America.
2022 Climate Risk Consortium Initiatives:
Governance
Helping banks develop a climate risk strategy, including risk appetite, training, policies, and Board assessments.
Disclosures
Communicating in a common voice to regulators and assessing/preparing for regulatory disclosures.
Risk Management
Developing common metrics and targets for reporting and benchmarking; organizational design for scenario analysis and stress testing.
RMA Climate Risk Consortium Files Comment Letters
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Interested in joining the Climate Risk Consortia?
Contact Us
Content Spotlight
U.S. Climate Regulatory Guide for Banking Organizations
This guide focuses on key legal and regulatory developments in the United States related to climate change and their impact on banking organizations. It also touches on related developments in environmental, social, and governance (“ESG”) issues, particularly as they relate to climate change regulation, and briefly addresses key international developments.
