RBI Launched ‘Climate Risk Data Platform’ to Address Financial Sector Risks

Current Context: The Reserve Bank of India (RBI) launched the Climate Risk Information System (RBI-CRIS) on May 29, 2025, to help financial institutions assess and mitigate climate-related risks.

Key Highlights:

• Objective: Bridge data gaps in physical risk, transition risk, and carbon emissions for financial stability.

Platform Components:

• Public Directory: Lists meteorological and geospatial data sources for climate risk assessment.
• Restricted Data Portal: Provides processed, standardized datasets for regulated financial institutions.

Significance: Supports banks, NBFCs, and financial entities in climate scenario analysis and risk-based decision-making.

Global Alignment: Complements initiatives like the G20 Data Gap Initiative and Network for Greening the Financial System (NGFS).

Question:

Q.1 What is the primary objective of the RBI’s Climate Risk Information System (RBI-CRIS)?
a) Bridge data gaps in climate risks for financial stability
b) Monitor weather patterns across India
c) Regulate carbon pricing
d) Fund green infrastructure projects

Answer: a) RBI-CRIS aims to bridge data gaps related to physical risk, transition risk, and carbon emissions to help financial institutions assess and manage climate-related risks effectively.