Regulatory Alerts2021-12-30
Added · Updated
Supervisory Policy Manual GS-1 Climate Risk Management
The Hong Kong Monetary Authority issued Supervisory Policy Manual GS-1 to establish expectations for climate risk management within all authorized institutions. The document requires banks to integrate climate-related risks into their overall risk management frameworks, governance structures, and strategic planning processes. It mandates the identification, assessment, and mitigation of both physical and transition risks to ensure financial stability and resilience against climate change impacts.
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