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    BaFin Consultation on Management of Sustainability Risks

    September 24, 2019

    BaFin published a consultation on dealing with sustainability risks. The consultation gives an orientation in dealing with the increasingly important issue of sustainability risks and provides numerous examples and questions for illustration purposes. BaFin sees its draft leaflet as a compendium of good practices that should apply in the light of the proportionality in the application supervised companies. The draft leaflet is, therefore, a useful supplement to the minimum requirements for risk management for credit institutions, insurance companies, and capital management companies. The consultation is open until November 03, 2019.

    The draft leaflet addresses topics such as strategies, responsible corporate governance, and business organization. BaFin believes that a strategic approach to sustainability risks and implementation in the companies it supervises is necessary. Risk management forms the central point of the leaflet. It deals with the risk identification, controlling processes as well as the "classical" methods and procedures, with particular emphasis on sustainability risks. Furthermore, the leaflet deals with stress test issues such as the scenario analyses, especially with regard to the company-specific tests, in addition to dealing with the transition scenarios and impact scenarios.

     

    Related Links (in German)

    Comment Due Date: November 03, 2019

    Keywords: Europe, Germany, Banking, Insurance, Securities, Sustainability Risk, ESG, Proportionality, Risk Management, Stress Testing, Governance, BaFin

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