
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?
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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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Relevant Thought Leadership
OCC Publishes Draft Principles on Climate Risk for Comment
Journal Articles
February 01, 2022

How Banks are Enhancing their Analysis of Climate Risk – EY/RMA Survey Results
Survey Reports
January 03, 2022

U.S. Senator Sheldon Whitehouse on Where Climate Action is Headed, and How the Financial System will be Affected
Journal Articles
April 01, 2021

OCC’s Hsu Discusses Path Towards Regulatory Guidance, Action on Climate Risk
Blogs
November 09, 2021

How the Financial System Can Help Solve the Climate Crisis - And Create Prosperity to Boot
Blogs
October 21, 2020
