By end-2021, financial firms will have to be able to demonstrate that their approaches to managing climate-related financial risk have been implemented and embedded in their organisations.
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.
The guidelines set out MAS’ supervisory expectations for banks, insurers and asset managers in their governance, risk management, and disclosure of environmental risk.
The publications will allow NGFS members and the FIs they supervise to better identify, quantify and mitigate climate risks in the financial system.
MAS managing director Ravi Menon suggests that China and Singapore work together to create frameworks for green and sustainability-linked loans, customised for Chinese and Singaporean SMEs.
A coherent global response and unifying standards are needed to tackle illegal wildlife trade and environmental crime. Financial institutions have a crucial role to play.
KRX will also launch a centralised platform where investors can obtain the investment information and disclosures of each bond, as it seeks to bolster ESG bond markets.
The removal of clean coal from the list of eligible projects will make it easier for foreign investors to play a greater role in China’s sustainable debt market.
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