AmitAgrawal

24/09/2025

🌱 Excited to speak at Toronto Climate Week | TOCW on how climate finance is evolving to accelerate climate action—driven by emerging regulations, financial innovation, and strategic opportunities.

Let’s build a sustainable future, one transformation at a time.

𝐑𝐞𝐠𝐢𝐬𝐭𝐞𝐫 𝐡𝐞𝐫𝐞:

Climate and sustainable finance are no longer just about compliance—they’re strategic drivers of growth and resilience. This session will explore evolving…

23/07/2024

📢 Big News :The U.S. Treasury Department, in partnership with the Financial Services Sector Coordinating Council (FSSCC), has issued a comprehensive set of guidelines to help financial institutions (FIs) securely implement cloud services. The guidelines include:

1: Cloud Profile 2.0: This document outlines the plan for implementing cloud security based on the NIST Cybersecurity Framework. Its goal is to provide a standardized approach for FIs and cloud service providers (CSPs) to ensure secure cloud integration.

2: Considerations for Financial Sector Cloud Outsourcing: This section highlights important factors to consider when negotiating contracts between FIs and CSPs, covering risks, regulatory compliance, and third-party due diligence.

3: Enhancing Security through Transparency and Monitoring: This part introduces a model for service interdependency and resilience, suggesting pre-configured cloud setups to achieve basic security standards.

WASHINGTON – Today, the U.S. Department of the Treasury and the Financial Services Sector Coordinating Council (FSSCC) published a suite of resources to share with financial services institutions on effective practices for their secure cloud adoption journey. These deliverables are the result of a...

22/07/2024

🚀 Exciting News from Singapore! 🚀
The Monetary Authority of Singapore (MAS) has committed up to S$100 million to bolster quantum computing and artificial intelligence (AI) capabilities in the financial sector. This investment under the Financial Sector Technology and Innovation Grant Scheme (FSTI 3.0) is set to revolutionize the industry.

🌟 Quantum computing will help in solving complex problems exponentially faster than traditional computers and support the establishment of technology centers, innovation projects, and security enhancements, ensuring Singapore remains at the forefront of this cutting-edge technology. Meanwhile, the enhanced AI grant scheme will accelerate the adoption of AI solutions, addressing industry-wide challenges such as fraud detection and risk management.

💡 Singapore is not just participating in the global tech race; it's aiming to lead it . By fostering innovation and talent development, MAS is not only supporting the financial sector but also paving the way for sustainable and inclusive economic growth such as create high-value jobs. This commitment underscores the importance of staying ahead in the rapidly evolving tech landscape., with the potential to yield substantial long-term benefits for Singapore's economy and its position in the global technology landscape.

THE Mon­et­ary Author­ity of Singa­pore (MAS) will com­mit an addi­tional S$100 mil­lion to help fin­an­cial insti­tu­tions build cap­ab­il­it­ies in quantum and arti­fi­cial intel­li­gence (AI) tech­no­lo­gies. This will include sup­port­ing man­power...

14/07/2024

Copenhagen is introducing a unique program known as CopenPay to promote eco-friendly activities in the city. This initiative, scheduled to start on July 15, includes 24 different attractions that will provide incentives for engaging in sustainable behaviors. The goal is to encourage both locals and visitors to adopt a more environmentally friendly mindset without increasing the tourism numbers.

By rewarding individuals for participating in activities like city cleaning and cycling, Copenhagen aims to cultivate a culture of sustainability among travelers. Through initiatives like beach clean-ups in exchange for complimentary meals, the city hopes to enhance the travel experience for current tourists. If successful, this project could serve as a blueprint for other cities seeking to balance the economic advantages of tourism with environmental responsibility and community well-being.

Copenhagen attractions reward climate-friendly actions.All our choices have an environmental impact, so why not make conscious decisions that benefit us all and be rewarded for them?CopenPay launches on July 15 and runs until August 11.

08/07/2024

The Basel Committee on Banking Supervision (BCBS) has approved a finalized disclosure framework for banks' cryptoasset exposures. Key points about the new disclosure framework:
1-> Purpose: '''The framework is designed to increase the availability of information and promote transparency in relation to banks' participation in cryptoassets.'''
2-> Implementation: The unveiling plan is set to be released later in July 2024, with a start date of January 1, 2026.
3-> Content: 'It is anticipated that the structure will consist of standardized tables and templates that address the cryptoasset exposures of banks.'.
4-> Scope: The regulations will be enforced on globally operating banks at the highest consolidated level.

The Basel Committee on Banking Supervision met virtually on 2 and 3 July to discuss a range of policy and supervisory initiatives.

03/07/2024

According to a recent report by FloQast, only 28% of CFOs consider to be a critical component of financial transformation. The report reveals some interesting insights towards AI and financial transformation:
1-> Optimism about AI: 38% of CFOs are optimistic about the future of AI in their roles.
2-> Hesitation about immediate impact: Appear hesitant about the prospect of artificial intelligence bringing about substantial changes to their operational procedures in the near future.
3-> Focus on financial transformation: CFO are less engaged in various aspects of financial transformation compared to accountants in initiatives such as business applications, intelligent information, centralized data, and automated processes.
4-> 'Time Constraints : 25% of CFO admit they lack sufficient time to engage in more valuable tasks

Twenty percent of CFOs say they lack sufficient data visibility, a concern only 8% of accountants share, according to new FloQast data.

02/07/2024

The International Sustainability Standards Board (ISSB) has recently announced several initiatives to standardize sustainability reporting, particularly focusing on climate transition plans and greenhouse gas (GHG) emissions.
1-> The IFRS Foundation, which oversees the ISSB, will now assume responsibility for the Transition Plan Taskforce's (TPT) disclosure-specific materials. This move aims to support the application of climate-related disclosures, including the requirement for entities to disclose information about their transition plans as mandated by IFRS S2. The TPT materials will be hosted on the IFRS Sustainability Knowledge Hub, with plans to incorporate them into educational resources and enhance application guidance within IFRS S2.
2-> This collaboration will establish governance mechanisms for the ISSB to engage in updates and decisions related to GHG Protocol standards and guidance such as an ISSB representative will serve as an observer on the GHG Protocol Standards Board

The IFRS Foundation’s International Sustainability Standards Board (ISSB) announced today a series of moves aimed at harmonizing sustainability reporting requirements for companies, with a focus on areas including disclosure of corporate climate transition plans and the measurement of greenhouse g...

01/07/2024

The Federal Reserve's 2024 stress test results show that large U.S. banks have sufficient capital to withstand a severe economic downturn, though they would face greater losses compared to the previous year's test. Key findings from the 2024 stress test include:
1-> All 31 participating banks passed the test, maintaining capital levels above the required minimums throughout a hypothetical recession scenario.
2-> Banks would collectively experience nearly $685 billion in total hypothetical losses under the severe stress scenario.
3-> The aggregate common equity tier 1 (CET1) capital ratio would decline by 2.8 percentage points, from 12.7% to 9.9%, which is larger than the 2.5% decline in the 2023 test.

The significant decrease in capital ratios from the previous year can be attributed to three primary factors:
a) Considerable growth in credit card balances and elevated delinquency rates, leading to increased expected credit card losses.
b) More risky corporate credit portfolios, resulting in higher anticipated corporate losses.
c) Increased expenses and reduced fee income in recent periods, causing a decrease in expected income to counterbalance losses.

27/06/2024

According to the latest McKinsey Global Survey on AI, generative AI (gen AI) adoption and usage have significantly increased (72% in 2024, up from about 50% in previous years )in 2024 compared to 2023. Key findings of it :
1-> Overall AI adoption has jumped to 72% in 2024, up from about 50% in previous years, indicating a broader surge in AI interest and implementation across industries.
2-> Implementation time: Most organizations required 1-4 months to put gen AI into production, though this varies by business function and approach
3-> Risks and challenges: Inaccuracy is the most recognized and experienced risk of gen AI use. Other challenges include data governance, integration, and insufficient training data.
4-> Functional adoption: Gen AI is most commonly used in marketing and sales, product and service development, and IT
https://buff.ly/3VElTa3

19/06/2024

Munich Re Climate Risk Preparedness Survey 2023/24 findings indicate that pure property damage is not the primary concern for any group or region. Instead, business interruption and loss of revenue are seen as the most serious risks. For top managers, supply chain interruptions also emerge as a significant risk, leading to revenue loss and business disruption.
https://buff.ly/4c3cX4S