Transcription of Supervisory Policy Manual
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Supervisory Policy Manual
Supervisory Policy Manual GS-1 Climate Risk Management Consultation 1 This module should be read in conjunction with the Introduction and with the Glossary, which contains an explanation of abbreviations and other terms used in this Manual . If reading on-line, click on blue underlined headings to activate hyperlinks to the relevant module. Purpose To provide guidance to AIs on the key elements of climate-related risk management; and to set out the HKMA s approach to, and expectations in, reviewing AIs climate-related risk management. Classification A non-statutory guideline issued by the MA as a guidance note. Previous guidelines superseded This is a new guideline. Application To all AIs Structure 1. Introduction Background Scope Legal framework Supervisory objectives Application and implementation 2. An overview of climate-related issues Climate-related risk drivers Unique characteristics of climate change and the implications 3.
1.4.1 As climate risk drivers would translate into one or more of the inherent risks (see para 5.2.2) assessed under the HKMA’s risk-based supervisory process (see SA-1 on risk-based supervisory approach), the main objectives of the HKMA’s supervisory approach in respect of climate risks are to assess (i) the risk profile of AIs in respect of
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