Khalid Azizuddin
Climate change is already affecting economic activity in both emerging and advanced economies, say the banks.
It includes thresholds on asset allocation, and disclosure of ESG scores and stewardship performance.
Fund managers increased exposure to ESG stocks before making mandatory disclosures, say researchers.
Some say the EU proposals could worsen market fragmentation, while confusion remains around how rules to prevent conflicts of interest should be implemented.
It comes following sustained pressure by investor groups.
The central bank has separately announced a 2 percent allocation to less carbon-intensive companies.
A parallel initiative to develop a formal regulatory regime is separately being undertaken by the Treasury.
Unlike comparable frameworks, it will not include gas, nuclear or coal phase-outs.
The central bank is separately seeking feedback on provisional criteria for coal phase-outs under its incoming taxonomy.
Move comes ahead of potential intervention by regulatory agencies.