• 12 Neglinnaya Street, Moscow, 107016 Russia
  • 8 800 300-30-00
  • www.cbr.ru
What do you want to find?

Bank of Russia to develop recommendations on climate risk management

10 March 2023

The regulator plans to develop and publish recommendations on the integration of climate risks into the risk management framework of financial institutions in 2023–2024.

The document will be based on the feedback given by market participants during the discussion of the consultation paper Climate risks in changing economic conditions.

The Bank of Russia and professional community have the same view on climate risks the Russian economy may face. The participants of the discussion supported the approaches to climate risk management by financial institutions and noted the need to establish common scenarios for climate risk assessment and stress testing. Also, respondents were positive about possible approaches to capturing these risks in the banking regulation.

The regulator plans to further elaborate the issues outlined in the consultation paper.

Preview photo: Alexkich / Shutterstock / Fotodom
Save as PDF