Circular No. 91 Sustainable Financing and Climate-Related Risks

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Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY

Circular No. (91 / 2023)
To all banks operating in Palestine
Date: Wednesday, April 26, 2023

Subject: Sustainable Financing and Climate-Related Risks

Sustainable financing is among the key areas receiving attention from central banks and the international community. It represents an economic development model that directly incorporates environmental, social, and governance (ESG) considerations into business operations to address the interplay between natural resources and their utilization. This approach serves society while mitigating the adverse impacts of human activity on climate change, global warming, and resource depletion. The financial sector is the cornerstone of economic support; achieving sustainable development goals and curbing climate-related risks depends on its active role in fostering sustainability.

Accordingly, all banks are requested to submit the following via email at GF-CCR@PMA.PS:

1. The questionnaire (Annex No. 1) within two weeks of issuance.
2. The completed supervisory report (Annex No. 2) by May 31, 2023, with periodic submissions within five working days following the end of each quarter.

Supervision Department
Palestine Monetary Authority

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