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Australia’s banking regulator finalizes climate change policy guidance By Reuters


SYDNEY (Reuters) – Australia’s banking regulator on Friday launched its last steering for banks, insurers and pension funds to handle monetary dangers related to local weather change, stopping in need of imposing new necessities.

The Australian Prudential (NYSE:) Regulation Authority (APRA) mentioned the principle-based information is aligned with the Monetary Stability Board’s Disclosures Job Power on Local weather-related Monetary (TCFD) suggestions however doesn’t impose new regulatory necessities.

“Most APRA-regulated entities acknowledge the potential challenges of local weather change, similar to … new legal guidelines or changes in asset values, however they do not at all times have a great understanding of find out how to reply,” APRA Chair Wayne Byres mentioned.

The steering paper “is a direct response to their request for extra readability about regulatory expectations and examples of higher trade follow.”

The regulator will conduct a survey on local weather change monetary threat to grasp the extent of alignment between establishments’ administration of local weather change monetary dangers, the brand new steering and the TCFD suggestions.

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Abhishek Tiwari
Abhishek Tiwari is the Author & Founder of the He is passionate about Blogging & Digital Marketing.

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