RBI Unveils 'Climate Risk Data Platform' to Tackle Financial Sector Vulnerabilities. Banking & Finance | Dated: 04 Jun 2025 In May 2025, the Reserve Bank of India (RBI) launched the Reserve Bank-Climate Risk Information System (RBI-CRIS), a two-part data platform to address gaps in climate-related financial information. 🎯 Key Highlights: RBI-CRIS consists of a publicly accessible web directory listing various climate data sources and a restricted-access portal providing standardized datasets to regulated financial institutions. The platform aims to standardize and fill data gaps in three key areas: physical climate risks, transition risks, and carbon emissions. Physical risks refer to damages from natural disasters like floods, droughts, cyclones, and tsunamis, assessed using hazard and vulnerability data including historical financial losses. 💡 Other Important Facts: (i) Transition risks emerge from changes in policies, technologies, and market dynamics as the economy shifts toward low carbon. Managing these risks requires detailed data on sector-wise emissions, carbon pricing mechanisms, and established pathways for decarbonization. (ii) RBI is finalizing a Disclosure Framework on climate-related financial risks to improve transparency and accountability across financial institutions. (iii) To foster innovation, RBI supports climate risk and sustainable finance through an 'On Tap' Regulatory Sandbox cohort and hosts a 'Greenathon' event to promote green finance solutions. 📚 Test Your Knowledge: Recently, which institution launched the 'Climate Risk Data Platform' to address financial sector vulnerabilities? Correct Answer: RBI 🚀 Quick Recap: About RBI Governor : Sanjay Malhotra Headquarter : Mumbai