What best practices can a Financial Institution put in place to show commitment to ESG?
According to MAS (Pages),
last revised on 28 July 2022
MAS has set out supervisory expectations around effective governance, robust risk management, and meaningful disclosure of environmental-related risks through the issuance of the Guidelines on Environmental Risk Management to FIs (ENRM Guidelines) in December 2020.
In May 2022, to accelerate FIs' adoption of the ENRM Guidelines and uplift industry standards, MAS also published information papers on the environmental risk management practices of banks, insurers and asset managers. The papers provide an overview of the progress made by selected FIs in implementing the ENRM Guidelines, identify emerging and/or good environmental risk management practices by financial institutions, and highlight areas where further work is needed.
The relevant Guidelines and Information Papers can be downloaded here.