Emerging Economies: Climate Risks and Best Practices for Climate Risk Disclosure

Year Published

2023

Contributing Organizations

United Nations Environment Programme Finance Initiative (UNEP-FI)

Type of Resource

Guidance

Languages

English

Relevant Topics

Core Topic

Disclosure Standards - Voluntary

Topic 2

Risks & Opportunities: The Business Case

Topic 3

Risk Management

Target Audience

Banks

Governments & Policymakers

Relevant Geography

Africa

Middle East and North Africa

Asia & the Pacific

Central Asia

Latin America and the Caribbean

Resource Description

This resource examines how climate-related financial risks affect emerging economies and outlines supervisory best practices, drawing on case studies from Brazil, Indonesia, Malaysia, Mexico, the Philippines, South Africa, and Türkiye.

Why This Matters

As emerging economies are particularly vulnerable to climate risks, this resource offers practical guidance to strengthen supervisory capacity and financial system resilience.

Key Insights

Emerging economies face high physical climate risks, data limitations, and institutional capacity gaps
Case studies highlight tools such as scenario analysis, stress testing, taxonomies, and disclosure requirements
Emphasizes the need for capacity building for regulators and smaller financial institutions
Stresses the importance of public-private collaboration and alignment with international standards
Key challenges include limited resources, weak data systems, and the need for tailored approaches

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