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Climate Risk Consortia

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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?

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Member Banks:

Currently, 33 financial institutions are involved in the inaugural year of RMA's Climate Risk Consortia, including the five members of 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
  • 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:

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

Interested in joining the Climate Risk Consortia?

Contact Us