Featured Product

    APRA Releases Results of Climate Risk Survey on Regulated Entities

    March 20, 2019

    APRA published an information paper that presents the results of its first climate risk survey on regulated entities. The paper takes stock of actions and initiatives underway in Australia and internationally in response to the growing awareness of physical, transitional, and liability risks of climate change. APRA also announced that it will increase its scrutiny of how banks, insurers, and superannuation trustees are managing the financial risks of climate change to their businesses.

    APRA surveyed 38 large banks, insurers, and superannuation trustees, last year, to assess their views and practices on climate-related financial risks. The survey found that a substantial majority of the regulated entities were taking steps to increase their understanding of the climate change risk. Other key findings include the following:

    • A third of the respondents believed that climate change is a material financial risk to their businesses and a further half thought it would be in future.
    • Majority of the banks considered climate-related financial risks as part of their risk management frameworks.
    • Reputational damage, flooding, regulatory changes, and cyclones were nominated as the top climate-related financial risks.

    Respondents also described the strategic opportunities they had identified from the transition to a low-carbon economy, including developing innovative products and services, and meeting the growing demand for green investment opportunities.

     

    Related Links

    Keywords: Asia Pacific, Australia, Banking, Insurance, Pension Funds, Climate Risk Survey, Risk Management, Climate-Related Financial Risk, APRA

    Related Articles
    News

    PRA Consults on Implementation of Certain Provisions of CRD5

    PRA, via the consultation paper CP12/20, proposed changes to its rules, supervisory statements, and statements of policy to implement certain elements of the Capital Requirements Directive (CRD5).

    July 31, 2020 WebPage Regulatory News
    News

    EIOPA Report Identifies Key Financial Stability Risks for Insurers

    EIOPA published the financial stability report that provides detailed quantitative and qualitative assessment of the key risks identified for the insurance and occupational pensions sectors in the European Economic Area.

    July 30, 2020 WebPage Regulatory News
    News

    EBA Publishes Risk Dashboard for First Quarter of 2020

    EBA published its risk dashboard for the first quarter of 2020 together with the results of the risk assessment questionnaire.

    July 30, 2020 WebPage Regulatory News
    News

    EBA Issues Updates on Stress Test Exercise for Banks in EU

    EBA announced that the next stress testing exercise is expected to be launched at the end of January 2021 and its results are to be published at the end of July 2021.

    July 30, 2020 WebPage Regulatory News
    News

    PRA Proposes Guidance Related to Matching Adjustment under Solvency II

    PRA published the consultation paper CP11/20 that sets out its expectations and guidance related to auditors’ work on the matching adjustment under Solvency II.

    July 30, 2020 WebPage Regulatory News
    News

    MAS Issues Guidance on Dividend Distributions by Banks

    MAS published a statement guidance on dividend distribution by banks.

    July 30, 2020 WebPage Regulatory News
    News

    APRA Updates Guidance on Capital Management for Banks

    APRA updated its capital management guidance for banks, particularly easing restrictions around paying dividends as institutions continue to manage the disruption caused by COVID-19 pandemic.

    July 29, 2020 WebPage Regulatory News
    News

    FSB Report Reviews Macro-Prudential Framework and Tools in Germany

    FSB published a report that reviews the progress on data collection for macro-prudential analysis and the availability and use of macro-prudential tools in Germany.

    July 29, 2020 WebPage Regulatory News
    News

    EBA Urges Firms to Finalize Preparations for End of Brexit Transition

    EBA issued a statement reminding financial institutions that the transition period between EU and UK will expire on December 31, 2020; this will end the possibility for the UK-based financial institutions to offer financial services to EU customers on a cross-border basis via passporting.

    July 29, 2020 WebPage Regulatory News
    News

    SRB on Operational Continuity in Resolution and FMI Contingency Plans

    SRB published guidance on operational continuity in resolution and financial market infrastructure (FMI) contingency plans.

    July 29, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5606