Membership: Aside from MAS and ABS who serve as standing members, there are 19 other EXCO members including DBS, OCBC, SGX, Climate Impact X, Great Eastern Life and Temasek. The SSFA is recruiting members, welcoming organizations that would like to play a role in advancing sustainable-finance practices in Singapore and the region.
Quebec’s prudential regulator releases climate risk management guidelines
Quebec’s prudential regulator, the Autorité des marchés financiers (AMF), has published its draft Climate Risk Management Guideline for public comments until January 30, 2024.
Scope: The Guideline applies to authorized insurers, financial services cooperatives and credit unions, authorized trust companies and other authorized deposit institutions, regardless of size, nature, complexity or risk profile.
Bottom line: These institutions are expected to consider climate-related risks in their risk-management processes, including adopting forward-looking approaches to climate risk which are holistic, integrated and built on reliable empirical data and analyses.