The voluntary code allows central banks to measure transparency, which the IMF says is necessary to facilitate accountability and enhance public trust and support.
The National Green Development Fund will be used to invest in key areas of green development along the Yangtze River Economic Belt.
The guidelines set out the obligations of directors of listed companies and their subsidiaries, and requirements for the establishment of group-wide frameworks.
The PBOC’s branches will grade banks on their green finance performance quarterly starting in January 2021, using a set of quantitative and qualitative indicators.
Multiple layers of uncertainty on the course of climate change give rise to a lack of consistent data and methodologies for translating potential outcomes into financial exposure estimates.
Incoming rules from the EU, UK, Singapore and Hong Kong highlight the need for banks to gain a better understanding of the third party and supply chain risks their customers face.
Hong Kong needs a more coordinated policy environment and an ESG policy roadmap, to provide greater certainty and foster confidence for institutional investors, the FSDC says.
Firms should “tell the story” of how their businesses are impacted by the Covid-19 pandemic, including support and assistance received from government, lenders, landlords and others.
The framework and taxonomy will help DBS clients transition to more sustainable business models, providing them transition financing to do so.
The HKMA expects the results of the industry greenness self-assessments in August 2020, which will inform its supervisory expectations ahead of a consultation next year.
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