Summarising the NGFS directory for bridging climate related data gaps, overcoming limitations, and proposed policy recommendations to support the needs of the financial sector.

In continuation of our first publication of the NGFS Series, summarising the climate scenarios and the underlying physical and transition risks, in this publication, our team at Grant Thornton is outlining the findings of the NGFS report on bridging climate-related data gaps.

July 2022, the NGFS has published its final report on bridging data gaps. Information has been provided to ensure the availability of reliable and comparable climate related data across institutions around the globe. The report outlines the main challenges around reliable and consistent data availability, use and benefits of the NGFS repository, and policy recommendations.

The main data limitations are related to availability, reliability, and comparability. To overcome these challenges, there is need for development of global disclosure standards, taxonomies, and standardisation of sustainability information. Development of methodologies and benchmark indicators are used to estimate the required data focusing on key performance metrics and methodologies around climate risks.

The NGFS directory was designed to map climate-related data gaps and policy recommendations to bridge those gaps. We further investigate the NGFS Directory and how it can support the needs of the financial sector.

Please find more insights from our review of the NGFS report in the publication below.