Translartion. Region: Russians Fedetion –
Source: Central Bank of Russia –
Only a small proportion of financial institutions fully integrate risks associated with reducing greenhouse gas emissions and adapting to climate change into their corporate governance systems. These include: survey results Bank of Russia, conducted to assess the implementation recommendations regulator.
Banks are more involved in the climate agenda than NPFs and insurance companies. Some of them already set the relevant conditions in loan agreements.
Monitoring climate and environmental strategies The Bank of Russia’s survey of the largest non-financial companies showed that companies have begun to better disclose climate information and set more ambitious goals. However, environmental goals are often formal in nature.
Russia’s trading partners continue their transition to a low-carbon economy and introduce regulations that will affect international trade. Therefore, the Bank of Russia intends to describe in more detail the methodologies for taking into account climate risks and develop recommendations for banks on how to manage them. It also plans to continue climate stress testing and encourage financial institutions to assess these risks independently.
Preview photo: Sergey Bobylev / TASS
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