Regulatory Alerts2020-07-07
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Range of practices for management of climate risks
The Hong Kong Monetary Authority issued this circular to share observed best practices from major banks for managing climate risks with all Authorized Institutions. It outlines supervisory expectations across governance, strategy, risk management, and disclosure, referencing the Task Force on Climate-related Financial Disclosures recommendations. The regulator encourages proportional implementation of these practices and announced a pilot stress testing exercise to assess sector resilience.
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