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On 30 December 2021, the Hong Kong Monetary Authority (“HKMA”) issued the Supervisory Policy Manual (“SPM”) module GS-1 on climate risk management. The purpose of the SPM GS-1 module is to provide high-level guidance to AIs to build climate resilience by incorporating climate considerations into governance, strategy, risk management and disclosure. The HKMA allows a 12-month period to implement the requirements set out in the SPM GS-1 module.
Find out more about the SPM module and key next steps towards green and sustainable banking.