Answer: Reserve Bank Climate Risk Information System (RB-CRIS)
Notes: RBI proposed the Reserve Bank Climate Risk Information System (RB-CRIS) to bridge gaps in climate-related data. Current climate data is fragmented, from varied sources, formats, and frequencies. RB-CRIS will have two parts: a public web directory of data sources and a data portal with standardized datasets. RBI will launch RB-CRIS in phases, starting with the directory, followed by the portal for regulated entities. Regulated entities must assess climate risks to ensure financial stability. RBI’s draft guidelines require disclosures on governance, strategy, risk management, and metrics related to climate risks.
