Regulatory Alerts2023-01-01
Consultation Paper No. 1 of 2023 - Principles for the Effective Management of Climate-Related Financial Risks
The UAE Sustainable Finance Working Group proposes minimum standards for the financial sector to integrate climate-related risks into corporate governance, strategy, and risk management frameworks. These principles require firms to establish oversight, allocate responsibilities, and incorporate climate scenarios into capital planning and liquidity exercises. The Working Group is currently seeking feedback on the draft document until May 1, 2023, before finalizing and issuing the formal requirements.
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