FSB Asia’s perspective on addressing AI and climate risks

Posted on May 20, 2024 by Editor

The Financial Stability Board (FSB) Regional Consultative Group for Asia (RCG Asia) met in Colombo to discuss financial market developments, including the implications of artificial intelligence (AI) and climate change on financial stability.

Members reviewed progress in addressing financial risks from climate change and discussed the use of AI in the financial sector. Additionally, they explored initiatives to enhance cross-border payments, focusing on making them faster, cheaper, and more transparent.

The FSB aims to strengthen engagement with the private sector and promote greater collaboration between public and private sectors to address challenges in the region. The FSB coordinates international efforts to promote financial stability and supervises financial authorities in various countries and jurisdictions.

Read more here.

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