Supervisory Policy Manual SPM GS-1 Climate Risk Management

Banking Policy Department
Our Ref: B1/15C
B9/197C
B1/21C
30 December 2021
The Chief Executive
All Authorized Institutions
Dear Sir / Madam,
Supervisory Policy Manual (SPM): GS-1 “climate risk management” I am writing to inform you that, following consultation with the two industry associations, the Monetary Authority is issuing the above SPM module as a guidance note today. The SPM module is intended to provide high-level guidance to AIs to build climate resilience by incorporating climate considerations into governance, strategy, risk management and disclosure. As mentioned in the SPM, a 12-month period will be allowed for the implementation. AIs are thus expected to take relevant measures by end￾2022. If you have any questions about this SPM, please contact Ms Olivia Chung (2878-1624) or Mr Willy Mak (2878-1219). Yours faithfully, Frank Leung Acting Executive Director (Banking Policy) Encl cc: The Chairperson, The Hong Kong Association of Banks The Chairperson, The DTC Association FSTB (Attn: Mr Justin To)