Regulatory Alerts2024-05-10
G3-2024 - Guidance on climate-related disclosures for Banks
The South African Reserve Bank issued this guidance note to require banks to disclose climate-related risks and opportunities aligned with International Sustainability Standards Board standards. The document mandates reporting across four thematic areas: governance, strategy, risk management, and metrics and targets, emphasizing materiality and consistency. While currently non-mandatory, the regulator expects proactive implementation and anticipates future compulsory disclosure requirements as climate risk management capabilities mature.
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