Regulatory Alerts2022-12-23
Added · Updated
Green & Sustainable Banking - Climate Risk Management Supervisory Approach
The Hong Kong Monetary Authority issued this circular on December 23, 2022, to update the Supervisory Policy Manual regarding climate risk management for all authorized institutions. The document revises Module SA-1 to align the risk-based supervisory approach with the principles of green and sustainable banking. It establishes enhanced expectations for institutions to identify, assess, and manage climate-related financial risks effectively.
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