Climate change poses significant challenges to the global financial system, and financial authorities and institutions need access to reliable, consistent climate data to assess their exposure to its associated risks. However, finding and integrating this information from various sources is often difficult. The NGFS Data Directory aims to bridge this gap by providing a centralized repository of relevant information.
NGFS Data Directory 2.0: a new era of climate data accessibility
Building on lessons learned from the directory's first iteration, NGFS Data Directory 2.0 - a collaboration between the BIS Innovation Hub Singapore Centre, the Monetary Authority of Singapore, the Bank of France and the Network for Greening the Financial System (NGFS), is being developed as an entirely new platform that will significantly enhance how the financial sector accesses and utilizes climate risk data.
Key features of the upcoming 2.0 platform:
- Collaborative data ecosystem: users will be able to contribute and update data, ensuring that all information is both comprehensive and current.
- Advanced search and analytics: powerful tools to find, filter, and analyze climate risk data with precision.
- User-centric design: an intuitive interface designed for efficient navigation and data exploration.
- Enhanced data integration: improved methods for incorporating diverse data sources and formats.
A global collaboration for financial stability
The NGFS Data Directory initiative, both in its current form and the upcoming 2.0 version, represents a concerted effort by the MAS, BdF, BISIH, and NGFS to strengthen the financial sector's resilience to climate-related risks.