BRIEF-RBNZ Seeks Feedback On Proposed New Guidance For Financial Sector On Managing Climate-Related Risks

Reserve Bank of New Zealand : * SEEKING FEEDBACK ON PROPOSED NEW GUIDANCE FOR FINANCIAL SECTOR ON MANAGING CLIMATE-RELATED RISKS

* RECENT UPPER NORTH ISLAND FLOODS AND CYCLONE GABRIELLE HIGHLIGHTED HOW CLIMATE CHANGE IS ALREADY IMPACTING PEOPLE OF AOTEAROA * CLIMATE-RELATED RISKS CONTINUE TO EVOLVE, WITH POTENTIAL TO SIGNIFICANTLY AFFECT FINANCIAL SYSTEM IN FUTURE

* DRAFT GUIDANCE SUGGESTS THAT ENTITIES MANAGE CLIMATE-RELATED RISKS WITHIN THEIR BROADER RISK MANAGEMENT FRAMEWORK * RECOGNISE THAT CLIMATE-RELATED RISKS WILL NOT AFFECT ALL ENTITIES EQUALLY & GUIDANCE STRESSES THAT APPROPRIATE MEASURES ARE PROPORTIONATE

* PROPOSING ENTITIES DEVELOP THEIR CAPABILITIES IN CLIMATE-RELATED SCENARIO ANALYSIS AND STRESS TESTING Further company coverage: