- The RBI has proposed that the Reserve Bank – Climate Risk Information System (RB-CRIS) address the gap in climate-related data for entities.
- The Reserve Bank of India identifies climate change as one of the significant risks to the financial system.
- It necessitates high-quality data relating to local climate scenarios, climate forecasts, and emissions.
- The available climate-related data is characterised by various gaps such as fragmented and varied sources, differing formats, frequencies and units.
- Two-Part System:
- The first part will be a web-based directory, listing various data sources, (meteorological, geospatial, etc.) which will be publicly accessible on the RBI website.
- The second part will be a data portal comprising of datasets (processed data in standardised formats). Access to this data portal will be made available only to the regulated entities in a phased manner.
Dig Deeper: Read about RBI’s Green Deposits and also the concept of Greenwashing.
