FSB is establishing an industry-led disclosure task force on climate-related financial risks in accordance with its proposal to G20 (see FReD 13 November). It plans to develop voluntary, consistent, climate-related financial risk disclosures for use by companies in providing information to lenders, insurers, investors and other stakeholders. The task force will consider the physical, liability and transition risks associated with climate change and what constitutes effective financial disclosures in this area and develop a set of recommendations for these stakeholders to understand the material risks. (Source: FSB Task Force on Climate-Related Financial Disclosures)