The task force will establish a monitoring system for climate-related financial risks, lead efforts to boost investment in green industries, and promote ESG investing in Korea.
Disclosures requirements applicable to new issues are enhanced, director independence is strengthened, and transparency on loans linked to controlling shareholders is improved.
Taiwan’s FSC will direct OTC market operator Taipei Exchange to develop new guidelines for issuing social and sustainability bonds.
The NGFS membership will strengthen BSP’s collaboration with central banks and supervisors on the effective management of climate risks in the financial sector.
The XPCC is considered by OFAC to be a paramilitary organisation with large commercial operations that that are likely to be impacted by US sanctions.
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 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.
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.
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