Featured Product

    CMF Sets Out Strategy for Addressing Climate Change Risk

    September 25, 2020

    CMF published a report on its strategy for addressing climate change. As part of its strategy, CMF aims to promote the disclosure of risks associated with climate change, facilitate the development of a green financial market, and integrate climate risks into prudential supervision. To achieve these objectives, CMF has set up a work plan that it will execute in the short, medium, and long term.

    The work plan on climate change includes the following:

    • Creation of a Working Group for Climate Change (GTCC) for the development of a strategic initiative for climate change
    • Participation in the Green Public-Private Finance Committee of the Ministry of Finance and in the work carried out by IOSCO, IAIS and the Network of Central Banks and Supervisors for Greening the Financial System (NGFS)
    • A plan to promote the disclosure of information through regulatory amendments, as stated in the public consultation of General Rule No. 386
    • Development of a plan to facilitate a green financial market, collaboration with other national authorities to develop a classification of economic activities consistent with international standards, and a study (by GTCC) on both international standards and the local market to detect potential gaps and trends
    • Integration of climate risks into prudential supervision by identifying, in the short term, the international best practice framework for climate risk assessment, monitoring, and management based on the partnerships built by CMF, especially with its NGFS peers 

     

    Related Links

    Keywords: Americas, Chile, Banking, Climate Change Risk, ESG, Sustainable Finance, NGFS, Disclosures, Taxonomy, Stress Testing, CMF

    Featured Experts
    Related Articles
    News

    EBA Updates Filing Rules for Supervisory Reporting

    The European Banking Authority (EBA) published version 5.1 of the filing rules for supervisory reporting.

    October 19, 2021 WebPage Regulatory News
    News

    ECB Amends Guideline on Procedures for Collection of AnaCredit Data

    The European Central Bank (ECB) Guideline 2021/1829 on the procedures for the collection of granular credit and credit risk data has been published in the Official Journal of European Union.

    October 19, 2021 WebPage Regulatory News
    News

    ECB Amends Guideline on Procedures for Collection of AnaCredit Data

    The European Central Bank (ECB) Guideline 2021/1829 on the procedures for the collection of granular credit and credit risk data has been published in the Official Journal of European Union.

    October 19, 2021 WebPage Regulatory News
    News

    EBA Publishes Standards on Disclosure of Investment Policy Under IFR

    The European Banking Authority (EBA) published the final draft regulatory technical standards on disclosure of investment policy by investment firms, under the Investment Firms Regulation (IFR).

    October 19, 2021 WebPage Regulatory News
    News

    APRA Finalizes Guidance for New Prudential Standard on Remuneration

    The Australian Prudential Regulation Authority (APRA) published the prudential practice guide CPG 511 to assist banks, insurers, and superannuation licensees in meeting requirements of CPS 511, the new prudential standard on remuneration.

    October 18, 2021 WebPage Regulatory News
    News

    OCC Updated LIBOR Self-Assessment Tool for Banks

    The Office of the Comptroller of the Currency (OCC) published a bulletin that provides an updated self-assessment tool for banks to evaluate their preparedness for cessation of the London Interbank Offered Rate (LIBOR).

    October 18, 2021 WebPage Regulatory News
    News

    TCFD Updates Guidance for Financial Disclosures on Climate Risk

    The Financial Stability Board (FSB) published a report that examines the progress made toward disclosures aligned with recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

    October 14, 2021 WebPage Regulatory News
    News

    BCBS Report Examines Progress on Adoption of Basel III Framework

    The Basel Committee on Banking Supervision (BCBS) published the progress report on adoption of the Basel III regulatory framework in member jurisdictions.

    October 14, 2021 WebPage Regulatory News
    News

    ACPR Implements Updates Related to DPM Version 3.1

    The French Prudential Supervisory Authority (ACPR) has implemented, in its information system, updates linked to the Data Point Model (DPM) version 3.1.

    October 14, 2021 WebPage Regulatory News
    News

    EBA Note Examines Transition Risks of Benchmark Rates

    The European Banking Authority (EBA) published a thematic note that aims to identify and raise awareness of the transition risks of benchmark rates, as the London Interbank Offered Rate (LIBOR) and the Euro Overnight Index Average (EONIA) are close to being phased out.

    October 14, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7571