Overseen by APRA, a group of industry players – including the big four banks – are looking to reshape the financial system to ensure readiness for climate risks.
The financial sector will have a critical role to play in channelling investment towards sustainable projects on a global scale, said SFC chief Ashley Alder at the Bloomberg BuySide Summit.
Australia’s banking regulator will enhance its scrutiny on how banks, insurers and super funds are mitigating climate-related risks to their businesses.
Industry veteran Philip Keller explores the approach taken by regulators in the Philippines to encourage fintech innovation and financial sector digitalisation.
The SFC will require better environmental and climate risk disclosures by listed companies and asset managers, and will work with HKEX to promote green financial products.
The SFC’s Alexandra Yeong says Hong Kong has made great strides towards becoming a global centre for asset management.
New code is based on recommendations by the Corporate Governance Council and focuses on strengthening board independence and diversity; SGX has incorporated the new code in its listing rules.
Majority of respondents expect to follow multi-asset strategy in response to political pressures; managers also concerned about fintech disruption and compliance costs.
Banking regulator, International Finance Corporation to develop new governance and risk management assessment tools.
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