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Reporting on regulatory responses, risk management practices, and financial impacts of climate-related risks, including physical and transitional risks.
Reporting & Disclosures
Japan: Revised Corporate Governance Code Takes Effect
By Manesh Samtani | 16/06/2021
The new code seeks to enhance board independence, promote board diversity, and increase attention on sustainability and ESG issues.
Cryptocurrency
More Chinese Provinces Restrict Crypto Mining Activity
By Sanday Chongo Kabange | 15/06/2021
Qinghai, Yunnan, and a prefecture in Xinjiang have joined Inner Mongolia in imposing restrictions on cryptocurrency mining.
Structural Regulation
China Passes Law Establishing Hainan as Free Trade Port
By Sanday Chongo Kabange | 15/06/2021
The law states that Hainan will implement a “minimalist” investment approval system and create an “open, transparent, and predictable investment environment”.
Anti-Bribery & Corruption
G7 Leaders Commit to Acting on Corruption, Shell Companies
By Manesh Samtani | 13/06/2021
The communique highlights a need to tackle the misuse of shell companies and curtail the ability of illicit actors to hide wealth, including in real estate.
Sustainable Finance
PBOC Set to Begin Assessing Banks’ Green Finance Performance
By Manesh Samtani | 12/06/2021
The PBOC will begin quarterly assessments of 24 major banks on their green finance performance under a new evaluation system starting 1 July.
Climate Risk
NGFS Updates Climate Scenarios With More Data
By Manesh Samtani | 10/06/2021
If the transition fails, 13% of global GDP would be at risk by the end of the century, even before accounting for severe weather events.
Climate Risk
BOE Commences Climate Risk Stress Tests for Banks, Insurers
By Ranamita Chakraborty | 10/06/2021
The end result will be more robust management of climate-related financial risks across the sector, said BOE governor Andrew Bailey.
Climate Risk
MAS Sets Out Climate Strategy in Inaugural Sustainability Report
By Manesh Samtani | 09/06/2021
Five asset managers have been appointed to manage S$1.8bn of Singapore’s official foreign reserves under new mandates focused on climate change and the environment.
Operational Risk
SFC Raises Supervisory Focus on Fund Manager Resilience
By Manesh Samtani | 08/06/2021
The SFC is on the lookout for funds with outsized and concentrated bets to prevent an Archegos-type event in Hong Kong.
Reporting & Disclosures
BSP Outlines Expectations for Banks on Sustainable Finance
By Sanday Chongo Kabange | 04/06/2021
Banks must establish environmental and social risk management systems and disclose their sustainability initiatives in their annual reports.
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