Regulatory Alerts2021-06-21
Circular CSSF 21/773 on the Management of Climate-related and Environmental Risks
The Commission de Surveillance du Secteur Financier issued Circular CSSF 21/773 to establish regulatory expectations for financial institutions regarding the management of climate-related and environmental risks. The document mandates that banks integrate these risks into their governance, risk management frameworks, and strategic planning processes. Following its publication in June 2021, the regulator conducted a self-assessment exercise in 2022 with a sample of banks to evaluate compliance with these new requirements.
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