ACPR published a decision establishing the Climate and Sustainable Finance Committee, which will work on addressing the issues related to sustainable finance. The committee was set up to inform the strategic orientations and decisions of the Supervisory Board of ACPR regarding governance and prevention of climate risks, compliance with the commitments to sustainability, and incentives for sustainable financing. The Annex to the decision provides the list of committee members.
The committee has been tasked with addressing issues related to financing of the transition to a low-carbon and sustainable economy for institutions falling within its field of competence. It will promote a constructive dialog between all stakeholders on measuring and communicating commitments on the sustainable finance agenda, to ensure comparability and follow-up over time. The committee will also contribute to the development of methodologies for treatment of these commitments jointly with the Autorité des marchés financial institutions (AMF). It has been mandated to contribute to the work of ACPR, particularly in the form of proposals for the joint report published with AMF. This joint report will contain recommendations to improve the monitoring of the commitments and to develop the tools and regulatory framework for development of sustainable finance.
Related Link (in French): Notification (PDF)
Keywords: Europe, France, Banking, Climate and Sustainable Finance Committee, Sustainable Finance, ESG, Climate Change Risk, ACPR
Previous ArticleOCC Proposes to Revise Home Mortgage Disclosures Under Regulation C
HKMA proposed amendments to the Supervisory Policy Manual, or SPM, module CA-B-2 on systemically important banks.
FSB published the annual report that examines to-date progress toward implementation of climate-related disclosure recommendations of the industry-led Task Force on Climate-related Financial Disclosures (TCFD).
EBA proposed to revise the guidelines on sound remuneration policies in light of the amendments introduced by the fifth Capital Requirements Directive (CRD V).
US Agencies (FDIC, FED, and OCC) finalized two rules, which are either identical or substantially similar to the interim final rules in effect and issued earlier this year.
EBA published the first monitoring report that examines the issuance and quality of the minimum requirement for own funds and eligible liabilities (MREL) and the total loss-absorbing capacity (TLAC) instruments in EU.
FSB's Task Force on Climate-Related Financial Disclosures (TCFD) is seeking views on the decision-useful, forward-looking climate metrics for firms in financial sector, with the consultation ending on January 27, 2021.
APRA is consulting on the reporting standard for credit risk management (ARS 220.0).
PRA launched a consultation (CP18/20) setting out proposals for the "Contractual Recognition of Bail-in" and "Stay in Resolution" Rules.
BoE and PRA launched a package of proposals on the resolution policy in UK.
ECB published an opinion (CON/2020/25) on the deposit guarantee scheme and other amendments to the financial services legislation.