HKMA Co-Organizes Seminar on Greening Financial Institutions
The Center for Green Finance under the HKMA Infrastructure Financing Facilitation Office and the International Finance Corporation, a member of the World Bank Group, co-organized a two-day seminar (October 10–11) on "Greening Financial Institutions." The seminar highlighted how financial institutions are increasingly factoring in climate-related risks in various aspects such as their governance, lending policies, risk management frameworks, investment portfolios, business models, and disclosure.
The seminar discussed various principles and tools for corporates to transition their business and financing strategies, as they consider how their lenders and investors view their commitments on Environment, Social, and Governance (ESG) factors. The event brought together over 300 senior executives, comprising bankers, corporate treasurers, project developers and operators, and professional service providers.
On this occasion, Mr. Arthur Yuen, the Deputy Chief Executive of HKMA, said: "Since our announcement of the three-phased approach in May to promote green and sustainable banking, we are moving forward with the banking industry on developing a common framework consisting of guiding principles and possible metrics for assessing the “greenness” of individual banks. Our participation in the Central Banks and Supervisors Network for Greening the Financial System (NGFS) also allows us to consider the latest international insights in the development of our local framework. This Seminar provided the industry with a useful opportunity to enhance their capacity and preparedness on green and sustainable banking."
Keywords: Asia Pacific, Hong Kong, Banking, Securities, NGFS, IFFO, Climate Change Risks, Sustainable Finance, ESG
Previous Article
FSB and IMF Report Progress on Phase Two of G20 Data Gaps InitiativeRelated Articles
FED Revises Capital Planning and Stress Testing Requirements for Banks
FED finalized a rule that updates capital planning requirements to reflect the new framework from 2019 that sorts large banks into categories, with requirements that are tailored to the risks of each category.
ECB Releases Results of Bank Lending Survey for Fourth Quarter of 2020
ECB published results of the quarterly lending survey conducted on 143 banks in the euro area.
ESAs Publish Reporting Templates for Financial Conglomerates
ESAs published the final draft implementing technical standards on reporting of intra-group transactions and risk concentration of financial conglomerates subject to the supplementary supervision in EU.
EBA Publishes Report on Asset Encumbrance of Banks in EU
EBA published the annual report on asset encumbrance of banks in EU.
MAS Revises Guidelines on Technology Risk Management
MAS revised the guidelines that address technology and cyber risks of financial institutions, in an environment of growing use of cloud technologies, application programming interfaces, and rapid software development.
US Agencies Publish Updates for Call Reports, FFIEC 101, and FR Y-9C
FED updated the reporting form and instructions for the FR Y-9C report on consolidated financial statements for holding companies.
EBA Proposes Guidelines for Establishing Intermediate Parent Entities
EBA issued a consultation paper on the guidelines on monitoring of the threshold and other procedural aspects of the establishment of intermediate EU parent undertakings, or IPUs, as laid down in the Capital Requirements Directive.
EC Adopts Financial Reporting Changes Arising from Benchmark Reforms
EC published Regulation 2021/25 that addresses amendments related to the financial reporting consequences of replacement of the existing interest rate benchmarks with alternative reference rates.
BIS Bulletin Examines Key Elements of Policy Response to Cyber Risk
BIS published a bulletin, or a note, that examines the cyber threat landscape in the context of the pandemic and discusses policies to reduce risks to financial stability.
HMT Updates List of Post-Brexit Equivalence Decisions in UK
HM Treasury, also known as HMT, has updated the table containing the list of the equivalence decisions that came into effect in UK at the end of the transition period of its withdrawal from EU.
