Featured Product

    CBIRC Issues Green Finance Guidelines for Banks and Insurers

    June 02, 2022

    The China Banking and Insurance Regulatory Commission (CBIRC) issued the green finance guidelines for banking and insurance sectors, along with related questions and answers (Q&As) on the guidelines. These guidelines shall come into force on the date of promulgation.

    The guidelines clarify green finance supervision responsibilities of CBIRC and its local offices to strengthen the guidance and assessment of green finance business of banking and insurance institutions. The guidelines require banking and insurance institutions to:

    • thoroughly implement the new development philosophy, promote green finance from a strategic standpoint, increase support for a green, low-carbon and circular economy, prevent environmental, social and governance (ESG) risks, improve their own ESG performance, and promote an all-round green transition of economic and social development.
    • establish a green finance organization and coordination mechanism, also encouraging them to carry out innovation in the green finance system.
    • seek progress while maintaining stability, adjust and improve credit policies and investment policies, and actively support the building of a clean and low-carbon energy system, particularly in the areas of energy conservation, pollution reduction, carbon reduction, green enhancement, and disaster prevention of key industries and fields.
    • strengthen process management of investment and financing activities, conduct due diligence on credit extension and investment, strengthen the management of credit and investment approval, urge clients to strengthen ESG risk management by refining contract terms, and improve post-loan and post-investment management.
    • improve green finance management, adopt differentiated and convenient management measures, and optimize the ESG risk management of financing, online financing, and other businesses for micro and small enterprises.
    • strengthen internal control management and information disclosure, establish a green finance assessment and evaluation system, implement incentive and restraint measures as well as the mechanism of exempting liabilities after fulfilling duties, to ensure the sustainable and effective development of green finance.

     

    Related Links (in Chinese)

     

    Keywords: Asia Pacific, China, Banking, Insurance, Green Finance, Climate Change Risk, ESG, Sustainable Finance, Guidelines, Disclosure, CBIRC

    Featured Experts
    Related Articles
    News

    ESAs Issue Multiple Regulatory Updates for Financial Sector Entities

    The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.

    November 15, 2022 WebPage Regulatory News
    News

    ISSB Makes Announcements at COP27; IASB to Propose IFRS 9 Amendments

    The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.

    November 10, 2022 WebPage Regulatory News
    News

    IOSCO Prioritizes Green Disclosures, Greenwashing, and Carbon Markets

    The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.

    November 09, 2022 WebPage Regulatory News
    News

    EBA Finalizes Methodology for Stress Tests, Issues Other Updates

    The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups

    November 09, 2022 WebPage Regulatory News
    News

    OSFI Sets Out Work Priorities and Reporting Updates for Banks

    The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.

    November 07, 2022 WebPage Regulatory News
    News

    APRA Finalizes Changes to Capital Framework, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.

    November 03, 2022 WebPage Regulatory News
    News

    BIS Hub and Central Banks Conduct CBDC and DeFI Pilots

    The Bank for International Settlements (BIS) Innovation Hubs and several central banks are working together on various central bank digital currency (CBDC) pilots.

    November 03, 2022 WebPage Regulatory News
    News

    ECB Sets Deadline for Banks to Meet Its Climate Risk Expectations

    The European Central Bank (ECB) published the results of its thematic review, which shows that banks are still far from adequately managing climate and environmental risks.

    November 02, 2022 WebPage Regulatory News
    News

    ESAs, ECB, & EC Issue Multiple Regulatory Updates for Financial Sector

    Among its recent publications, the European Banking Authority (EBA) published the final standards and guidelines on interest rate risk arising from non-trading book activities (IRRBB)

    October 31, 2022 WebPage Regulatory News
    News

    EC Adopts Final Rules Under CRR, BRRD, and Crowdfunding Regulation

    The European Commission (EC) recently adopted regulations with respect to the calculation of own funds requirements for market risk, the prudential treatment of global systemically important institutions (G-SIIs)

    October 26, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8582