MAS: Consults on Environmental Risk Management Guidelines
- Issued a set of three consultation papers on its proposed Guidelines on Environmental Risk Management (Guidelines) for banks
- The Guidelines aim to enhance financial institutions’ (FI) resilience to environmental risk, and strengthen the financial sector’s role
- The Guidelines co-created with FIs and industry associations set out MAS’ supervisory expectations for banks
- Environmental risk poses potential financial impact on FIs’ portfolios and activities through physical
- Transition risk arises from the process of adjustment to an environmentally sustainable economy, including changes in public policies
