Data, Direction, Dialogue
Climate change is a global problem requiring global action. With the world turning its attention to climate action in the runup to COP26, and President Biden’s election bringing the US back to the centre of this debate, the UK and US have an opportunity to collaborate on this vital agenda.
Against this background, the City of London Corporation published a report on trans-Atlantic cooperation in climate-related financial services regulation, "Data, Direction, Dialogue: Opportunities for UK-US Collaboration in Climate-related Financial Services Regulation”.
This paper argues that the UK and the US should collaborate to establish high-quality science-based data as a foundation for standardised disclosure frameworks which include comparable metrics and risk assessment mechanisms. This should be underpinned by international dialogue led by the UK and the US in the development of globally consistent standards based on existing structures.
This report outlines a series of opportunities and recommendations for UK and US policymakers in the area of climate-related financial services regulation.