Summary of CPMI-IOSCO workshops on climate risks for financial market infrastructures

The Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures (CPMI) and IOSCO have hosted two virtual workshops focusing on climate risks for financial market infrastructures (FMIs). The workshops, attended by over 300 participants, addressed how different types of FMIs are exposed to climate risks, discussed risk management approaches, and explored how the PFMI can be used to identify, monitor and manage climate risks. The workshops highlighted the need for system-wide approaches to climate risk management and the importance of operational resilience for FMIs.