Regulatory Alerts2025-03-07
OSFI Guideline B-15 on Climate Risk Management
The Office of the Superintendent of Financial Institutions issues this guideline to establish comprehensive expectations for federally regulated financial institutions managing physical and transition climate-related risks. Institutions must integrate these risks into their governance, enterprise risk management frameworks, and capital adequacy processes while developing Climate Transition Plans and conducting standardized scenario analyses. Furthermore, the guideline mandates annual, transparent climate-related financial disclosures to be published publicly within 180 days of fiscal year-end, with phased implementation beginning in October 2024.
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