Transcription of Supervisory Policy Manual
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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 Previous guidelines superseded This is a new guideline.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.
IC-1 on risk management framework, IC-5 on stress-testing and the various modules on the effective management of the relevant inherent risks such as RR-1 on reputational risk and SR-1 on strategic risk. 1.3 Legal framework 1.3.1 AIs should be …
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