Global Trustee and Fiduciary Services Bite-Sized Issue 11 2025

9 QUICK LINKS AIFMD CBDC CRYPTOASSETS DIGITAL ASSETS FINTECH FSB MIFID/MIFIR (UK) IFR/IFD OPERATIONAL RESILIENCE OUTSOURCING SUSTAINABLE FINANCE/ESG T+1 TOKENISATION ASIA PACIFIC EUROPE NETHERLANDS NORTH AMERICA UNITED KINGDOM Global Trustee and Fiduciary Services Bite-Sized | Issue 11 | 2025 • An illustration of how an organisation could leverage the Locate, Evaluate, Assess, Prepare (LEAP) framework to assess vulnerabilities to climate and nature risks; • A systemic risk discussion, recognising the need to consider how to assess combined climate and nature risks, as well as wider socio-economic risk drivers; • A discussion of the difference between planetary, socio-economic and financial risks, recognising firms have limited agency to manage broader categories of risk; • Observations on limitations of first-generation climate risk assessment models to highlight the complexity and model risk challenge; • A methodology for developing a specific, plausible but severe climate-nature scenario resulting in significant (e.g. 15% to 20%) global GDP contraction over a 5-year period; and • A data section, focusing on climate to nature risk data and examples of recent climate-nature risk events. Other CFRF publications that were released on the same day include: • From risk to resilience: Integrating adaptation into finance; • Skilling Up: Training available on physical risks of climate change in the financial sector; • A Risk Professional’s Guide to Physical Risk Assessments: A GARP Benchmarking Study of 13 Vendors; and • Quantitative Climate Scenario Analysis in Financial Decisions Case Studies. These can all be found on the Financial Conduct Authority’s (FCA’s) CFRF Webpage. Link to CFRF Document here Link to FCA’s CFRF Webpage here ITPN Publishes New Interactive Map on Global Transition Plan Requirements On 17 October 2025, the International Transition Plan Network (ITPN) released an interactive map on global transition plan requirements. ITPN says that the interactive map highlights three categories of jurisdictions: • Mandatory – rules, regulations, or guidance already in force; • Upcoming – mandatory rules under development; and • Voluntary – guidance encouraging disclosure. The ITPN says that it reflects two main pathways: adoption of International Sustainability Standards Board (ISSB) Standards International Financial Reporting Standards (IFRS S1 & S2), and jurisdiction-specific guidance or rules. The ITPN highlights the following key trends: • Acceleration toward mandatory: Countries including Australia, Mexico, New Zealand, Singapore and Türkiye already require transition plan disclosure; • Upcoming: Bangladesh, Brazil, Canada, China, Hong Kong, South Korea, and the UK among others are advancing new requirements; • Convergence around ISSB: 37 jurisdictions are working towards or aligning with ISSB; and • In the next three years, mandatory disclosure comes into force in over half of the G20. Link to Interactive Map here