Regulatory Alerts2023-03-27
Draft Principles for the Effective Management of Climate-Related Financial Risks
The UAE Sustainable Finance Working Group issued draft principles establishing minimum standards for financial firms to manage climate-related financial risks. The framework mandates that boards and senior oversight integrate these risks into business strategy, risk management, capital adequacy, and scenario analysis. It requires clear assignment of responsibilities, robust monitoring, and reporting to ensure financial stability during the transition to a low-carbon economy.
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