Regulatory Alerts2024-08-22
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Good practices on climate-related risk governance
The Hong Kong Monetary Authority issued this circular to share good practices and key observations on climate-related risk governance based on recent supervisory exercises. The document outlines three main areas for robust oversight: fostering effective climate strategy implementation, exercising appropriate oversight of climate risk management, and cultivating a strong organizational climate risk culture. It encourages authorized institutions to refer to these practices to enhance their governance frameworks while noting the regulator's ongoing efforts to address common challenges such as data insufficiency.
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