Regulatory Alerts2021-12-08
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Sound Practices Supporting the Transition to Carbon Neutrality
The Hong Kong Monetary Authority issued this note to highlight sound practices adopted by leading banks in climate risk management based on regulatory discussions. The document outlines four key areas for action: reducing greenhouse gas emissions from own operations, lowering financed emissions through portfolio alignment, assisting clients in transitioning to low-carbon activities, and promoting collective industry efforts. These guidelines serve as a reference for banks to formulate comprehensive climate strategies that support the goals of the Paris Agreement and global net zero targets.
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