Regulatory Alerts2024-01-11
Financial Sustainability Guide 2021
The Central Bank of Iraq issued the Financial Sustainability Guide 2021 to mandate licensed banks to systematically integrate environmental, social, and governance (ESG) principles into their strategic planning, risk management, and product development. The guide requires banks to establish comprehensive sustainability reporting frameworks that track economic, social, and environmental performance against defined targets, while aligning financing portfolios with sustainable business criteria. Furthermore, it establishes a structured disclosure mechanism to enhance transparency, stakeholder engagement, and long-term competitiveness through standardized ESG metrics and regulatory performance scoring.
Share