Skip to Main Content

Decorative Caret Icon Climate Risk Consortia

Climate Risk Consortium

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:

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?

Contact Us


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:

  • Ally Bank
  • Bank of America
  • Bank of the West
  • BMO
  • Citizens Bank
  • Fifth Third Bank
  • Huntington National Bank
  • KeyBank
  • M&T Bank Corp.
  • MUFG Union Bank
  • National Bank of Canada
  • Regions Bank
  • Royal Bank of Canada
  • Silicon Valley Bank, and its parent, SVB Financial Group
  • Societe Generale
  • Sumitomo Mitsui Banking Corporation (SMBC)
  • TD Bank Group
  • Truist 
  • U.S. Bank
  • Wells Fargo

The Consortium launched in September 2021 and is chaired by Mary Obasi, Global Climate Risk Executive, Bank of America.



2022 Climate Risk Consortium Initiatives:


Helping banks develop a climate risk strategy, including risk appetite, training, policies, and Board assessments.


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

  • NYDFS​ Proposed Guidance
    Proposed Guidance for New York State Regulated Banking and Mortgage Organizations Relating to Management Of Material Financial Risks from Climate Change. ​
  • FRB Climate Principles
    Principles for Climate-Related Financial Risk Management for Large Financial Institutions (Federal Reserve Board Docket No. OP-1793)​

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. 

Read The Full Report



Additional Climate Content

Resources & amp; Content