Climate Risk

The World Bank Center for Financial and Sustainability Reporting Reform (CFRR) held its 9th Ministerial Conference Financial and Sustainability Reporting Reforms: Navigating Green and Digital Agendas on March 18, 2025, in Vienna, Austria, organized under its three flagship regional programs: EAASURE, PULSAR, and REPARIS for SMEs with support from donors, including the Austrian Government, the Austrian Ministry of Finance, the Austrian Development Cooperation, the Swiss State Secretariat for Economic Affairs, and the European Union (EU).

The Sustainability Reporting and IFRS for SMEs workshop brought together 26 participants to learn and discuss about sustainability reporting in the European Union, including the transposition of the EU Corporate Sustainability Reporting Directive (CSRD), the 12 European Sustainability Reporting Standards (ESRS), and the related Assurance Standard in the works.

The Financial Stability Board coordinates the work of international regulators to support integrating sustainability policies at the request of the G20, including though climate and environment monitoring, under four key policy areas: firm-level disclosures, data, vulnerabilities analysis, and regulatory and supervisory practices and tools.